Published: 2024-04-16T13:05:10.000Z
Chart USD/JPY Update: Fresh 34 year highs in JPY-driven trade
Senior Technical Strategist
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Little change to the bullish tone, with prices posting a fresh 34-year high in JPY-driven trade
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 156.00 | figure | S1 | 154.00 | figure | |||
R3 | 155.80 | ** | June 1990 high | S2 | 153.38 | * | 12 Apr (w) high | |
R2 | 155.00 | * | figure | S3 | 152.00 | * | break level | |
R1 | 154.70 | intraday high | S4 | 151.00 | * | congestion |
Asterisk denotes strength of level
13:55 BST - Little change to the bullish tone, with prices posting a fresh 34-year high in JPY-driven trade. The rising daily Tension Indicator highlights room for a test of 155.00. However, both daily and weekly stochastics are flattening in overbought areas, suggesting any further gains beyond here could meet profit-taking towards strong resistance at the 155.80 high of June 1990. Meanwhile, support is raised to 154.00. A close beneath here would turn sentiment cautious. However, a further close below the 153.38 weekly high of 12 April would turn sentiment cautiously negative and prompt a deeper pullback towards 152.00.