Published: 2025-07-18T13:03:53.000Z
Chart USD/JPY Update: Cautious trade - potential for a minor test lower
Senior Technical Strategist
2
Little change, as prices extend cautious trade around 148.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.20 | ** | 27 Mar (m) high | S1 | 148.00 | ** | break level | |
| R3 | 150.49 | 2 Apr (m) high | S2 | 147.00 | congestion | |||
| R2 | 150.00 | ** | congestion | S3 | 146.00 | * | break level | |
| R1 | 149.35 | ** | 50% ret of Jan-Apr fall | S4 | 145.00 | * | congestion |
Asterisk denotes strength of level
13:50 BST - Little change, as prices extend cautious trade around 148.50. Intraday studies are falling and overbought daily stochastics are unwinding, suggesting potential for a test of support at 148.00. But the rising daily Tension Indicator and positive weekly charts should limit any break in renewed buying interest above congestion around 147.00. Following cautious trade, higher levels are looked for. Resistance remains at the 149.35 Fibonacci retracement. A close above here would improve sentiment and extend April gains initially towards congestion around 150.00.