Published: 2024-04-15T13:18:45.000Z
Chart USD/JPY Update: Fresh 34 year highs - resistance at 155.00
Senior Technical Strategist
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Consolidation has given way to a fresh break higher
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 155.80 | ** | June 1990 high | S1 | 153.38 | * | 12 Apr (w) high | |
R3 | 155.00 | * | figure | S2 | 152.00 | * | break level | |
R2 | 154.40 | intraday high | S3 | 151.00 | * | congestion | ||
R1 | 154.00 | figure | S4 | 150.00 | ** | break level |
Asterisk denotes strength of level
14:10 BST - Consolidation has given way to a fresh break higher, with JPY-driven trade posting a test above 154.00 to reach 154.40. Intraday studies are positive and the daily Tension Indicator continues to strengthen, suggesting room for further strength in the coming sessions. A break above 154.40 will open up 155.00, but already overbought daily stochastics could limit any initial tests in consolidation. Meanwhile, support is raised to the 153.38 weekly high of 12 April. A close beneath here would turn sentiment neutral and prompt consolidation above 152.00.