Published: 2025-07-14T13:07:04.000Z
Chart USD/JPY Update: Consolidating - studies continue to rise
Senior Technical Strategist
2
The anticipated break above 147.00 is giving way to consolidation around 147.40
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.00 | ** | congestion | S1 | 147.00 | congestion | ||
| R3 | 149.35 | ** | 50% ret of Jan-Apr fall | S2 | 146.00 | * | break level | |
| R2 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
13:55 BST - The anticipated break above 147.00 is giving way to consolidation around 147.40, as rising intraday studies flatten. Daily readings continue to rise and broader weekly charts are also positive, highlighting room for further strength in the coming sessions. Immediate resistance is at 148.00. But a close above the 148.50 Fibonacci retracement is needed to turn sentiment outright positive and extend April gains initially to the 149.35 longer-term Fibonacci retracement. Meanwhile, a break back below congestion support at 147.00, if seen, should be limited in consolidation above 146.00.