Published: 2024-01-05T00:54:17.000Z
Chart USD/JPY Update: Extending gains
Technical Analyst
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Extending bullish run-up from the 140.25 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 147.15 | * | 21 Nov low | S1 | 143.73 | 3 Jan high | ||
| R3 | 146.59 | 11 Dec high | S2 | 142.85 | * | 4 Jan low | ||
| R2 | 146.00/10 | * | congestion, 50% Nov/Dec fall | S3 | 142.00 | * | congestion | |
| R1 | 145.00 | ** | congestion | S4 | 140.95 | * | 14 Dec low |
Asterisk denotes strength of level
00:45 GMT - Extending bullish run-up from the 140.25 low with break above the 144.00 level shift focus to the strong resistance at the 145.00 level. Stretched intraday studies suggest reaction here likely though the positive daily chart suggest scope for further gains ahead. Clearing the 145.00 level will see room to the 146.00/10 congestion and 50% Fibonacci level. Meanwhile, support is raised to the 144.00/143.73 area then the 142.85 higher low which should now underpin and sustain gains from the 140.25 low.