Weekly Chart USD/JPY Update: Consolidating at 153.00; room for lower later

Steadied at the 153.00 low as prices consolidate sharp drop from the 160.00/160.50 resistance to trade around the 154.00 level.

Bounce see the 155.00 and 155.22 May/August low now turned resistance expected to cap. Break above here, if seen, will open up room for stronger correction to the 156.00 congestion. Higher still, will see scope to 156.75/157.00, 50% Fibonacci retracement and consolidation area. Negative weekly studies highlights room for further losses going forward to retrace gains from the April 2025 year low. Lower will see extension to retest strong support at the 152.10 January current year low then 152.00 level and 2022/2023 year highs.

Negative weekly studies highlights room for further losses going forward to retrace gains from the April 2025 year low. Below the 153.00 level will see extension to retest strong support at the 152.10 January current year low then 152.00 level and 2022/2023 year highs. Lower still will see scope to 150.00 figure.