Published: 2024-04-23T13:42:18.000Z
Chart USD/JPY Update: Balanced at fresh 34-year highs - bullish daily studies fading
Senior Technical Strategist
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No change, as flat intraday studies keep price action cautious at current year highs
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 | 154.85 | * | intraday high | S4 | 151.00 | * | congestion |
Asterisk denotes strength of level
14:25 BST - No change, as flat intraday studies keep price action cautious at current year highs. Overbought daily stochastics and the rising daily Tension Indicator are flattening, suggesting difficulty sustaining any immediate tests higher. Broader weekly charts remains positive, however, pointing to potential for a later break above 155.00 and extension of long-term bull trends towards the 155.80 high of June 1990. Meanwhile, support remains at 154.00. A close beneath here, if seen, should meet fresh buying interest towards the 153.38 weekly high of 12 April.