Published: 2025-01-17T00:55:15.000Z
Chart USD/JPY Update: Extending losses
Technical Analyst
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Break of the 156.00 support has seen extension to approach the 155.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.00 | * | congestion | S1 | 154.70 | * | 6 Nov high, congestion | |
| R3 | 157.00 | * | congestion | S2 | 154.00 | * | congestion | |
| R2 | 156.75 | ** | Nov high | S3 | 153.16 | * | 17 Dec low | |
| R1 | 156.00 | * | congestion | S4 | 152.00 | * | congestion |
Asterisk denotes strength of level
00:45 GMT - Break of the 156.00 support has seen extension to approach the 155.00 level. Break here will see room for further losses to the 154.70 support. Stretched intraday suggest possible reaction at the latter but bounce likely to prove limited. Lower still will see deeper pullback to retrace the December/January rally and see room to the 154.00 congestion and 153.16 support. Meanwhile, resistance is lowered to the previous support at 156.00 and this extend to the 156.75, November high. This area now expected to cap and sustain losses from the 158.87 high.