Chart USD/JPY Update: Consolidating - daily studies under pressure
Still little change, as mixed intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.75 | ** | 38.2% ret of 1982 - 2011 fall | S1 | 150.00 | ** | break level | |
| R3 | 152.25 | ** | July 1990 high | S2 | 148.80 | ** | 19 Jan (w) high | |
| R2 | 151.94 | ** | 13 Nov 23 (y) high | S3 | 148.00 | * | congestion | |
| R1 | 150.88/00 | * | 13 Feb YTD high; congestion | S4 | 147.00 | * | congestion |
Asterisk denotes strength of level
14:05 GMT - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend cautious trade around support at 150.00. Daily stochastics have turned down and the daily Tension Indicator is under pressure, suggesting a deterioration in sentiment and room for further losses in the coming sessions. A close beneath 150.00 will add fresh weight to sentiment and extend losses towards the 148.80 weekly high of 19 January, where rising weekly charts could prompt renewed buying interest. Meanwhile, a close above 150.88/00, not yet seen, will turn sentiment positive and extend late-December gains towards the 151.94 year high of 13 November.