Published: 2026-02-03T00:38:35.000Z
Chart USD/JPY Update: Retracing January losses
1
Bounce from the 152.10 low of last week has seen extension to fill the 155.34/155.60 gap area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 157.42 | ** | 19 Jan low | S1 | 154.40 | * | congestion, Dec low | |
| R3 | 157.00 | * | congestion | S2 | 154.00 | * | congestion | |
| R2 | 156.00 | * | congestion | S3 | 153.00 | * | congestion | |
| R1 | 155.60 | ** | 23 Jan low, gap | S4 | 152.10/00 | ** | 27 Jan low, 38.2% |
Asterisk denotes strength of level
00:30 GMT - Bounce from the 152.10 low of last week has seen extension to fill the 155.34/155.60 gap area. Break here and the 156.00 level, if seen, will open up room for stronger gains towards 157.00/157.42 congestion and strong resistance which is expected to cap. Corrective gains are expected to give way to renewed selling pressure later with support now raised to 154.40/154.00 area. Would take break here to return focus to the downside for retest of the 153.00 congestion and the 152.10/152.00, low and 38.2% Fibonacci retracement of the April/January gains.