Published: 2026-10-19T13:10:16.000Z
Chart USD/JPY Update: Price action remains cautious
2
Cautious trade around 158.00 is giving way to a drift higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.40 | ** | 2 Sep (m) high | S1 | 158.00 | ** | congestion | |
| R3 | 160.00 | ** | congestion | S2 | 157.00 | congestion | ||
| R2 | 159.75 | ** | intraday lows | S3 | 156.70 | * | 38.2% ret of Sep rally | |
| R1 | 159.00 | * | congestion | S4 | 155.95/00 | ** | 50% ret; congestion |
Asterisk denotes strength of level
13:55 BST - Cautious trade around 158.00 is giving way to a drift higher, with prices currently trading around 158.30. Intraday studies are rising, highlighting room for continuation towards congestion resistance at 159.00. But negative daily readings and mixed weekly charts should limit any initial tests in fresh consolidation.
Meanwhile, a close back below 158.00 will open up further congestion around 157.00. But mixed weekly charts should once again prompt consolidation above here. A close below the 156.70 FIbonacci retracement is needed to turn sentiment negative and open up a test of strong support within the 155.95/00 range.