Published: 2025-07-21T13:02:37.000Z
Chart USD/JPY Update: Room for lower
Senior Technical Strategist
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Cautious trade has given way to anticipated losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.49 | 2 Apr (m) high | S1 | 147.00 | congestion | |||
| R3 | 150.00 | ** | congestion | S2 | 146.00 | * | break level | |
| R2 | 149.35 | ** | 50% ret of Jan-Apr fall | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
13:50 BST - Cautious trade has given way to anticipated losses, with the break below 148.00 currently trading around 147.50. Intraday studies are under pressure and daily readings are falling, highlighting a deterioration in sentiment and room for still deeper losses in the coming sessions towards congestion support at 147.00. Rising weekly charts, however, should limit any tests beneath here in renewed buying interest/consolidation above 146.00. Meanwhile, a close back above resistance at 148.00 would turn sentiment neutral and prompt consolidation beneath critical resistance at the 149.35 Fibonacci retracement.