Published: 2026-07-20T01:04:00.000Z
Chart USD/JPY Update: Coiled below 162.70/84 highs
4
Still limited above the 162.50 congestion but pressure stays firmly on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.00 | * | Dec 1986 high | S1 | 161.28/00 | * | 10 Jul low, congestion | |
| R3 | 163.00 | * | congestion from Dec 1986 | S2 | 160.72 | * | Apr high | |
| R2 | 162.84 | ** | 1 Jul multi-yr high | S3 | 160.48 | ** | 3 Jul low | |
| R1 | 162.50 | * | congestion | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
01:00 GMT - Still limited above the 162.50 congestion but pressure stays firmly on the upside. Further ranging action remains but bullish structure and the 3-week triangle pattern suggest potential for break going forward. Clearance will extend the underlying bull trend and see room to resistance at the 163.00/164.00 congestion and high of December 1986. Meanwhile, support is at the 161.28/00 area. Would take break here to open up room for deeper pullback to support at the 160.48 low and 160.00 figure. Break of these will fade the upside pressure and see deeper pullback to retrace strong gains from the May low.