Published: 2025-04-25T07:59:59.000Z
Chart USD/JPY Update: Consolidating - daily studies rising
Senior Technical Strategist
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The anticipated minor test lower has bounced from 142.30
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 146.00 | break level | S1 | 142.00 | * | congestion | ||
| R3 | 145.50 | congestion | S2 | 141.00 | * | congestion | ||
| R2 | 145.00 | * | congestion | S3 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R1 | 144.00 | * | congestion | S4 | 140.00 | ** | congestion |
Asterisk denotes strength of level
08:40 BST - The anticipated minor test lower has bounced from 142.30, as intraday studies turn higher, with prices currently balanced in cautious trade beneath congestion resistance at 144.00. Daily readings continue to rise and oversold weekly stochastics are flattening, suggesting room for further strength in the coming sessions. A break above 144.00 will open up congestion around 145.00. But the negative weekly Tension Indicator and bearish longer-term charts could limit any initial tests in consolidation/selling interest. Meanwhile, support remains at congestion around 142.00 and should continue to underpin any immediate tests lower.