Published: 2025-07-16T00:56:04.000Z
Chart USD/JPY Update: Still room to extend gains
Technical Analyst
1
Rally through the June and May highs at 148.00/148.65 extend the April gains to reach the 149.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.48 | * | Apr high | S1 | 148.00 | * | Jun high | |
| R3 | 150.00 | ** | figure, congestion | S2 | 147.18 | 9 Jul high | ||
| R2 | 149.40 | * | 50% Jan/Apr fall | S3 | 146.55/00 | ** | Mar low, congestion | |
| R1 | 149.00 | congestion | S4 | 145.20/00 | * | 3 Jul high, congestion |
Asterisk denotes strength of level
00:50 GMT - Rally through the June and May highs at 148.00/148.65 extend the April gains to reach the 149.00 level. Pause here see prices unwinding overbought intraday studies but positive daily and weekly studies suggest scope for break later. Clearance will see room to the 149.40, 50% Fibonacci level, then the 150.00 figure. Meanwhile, support is raised to the 148.00 level which should underpin. Would take break here to ease the upside pressure and see room for deeper pullback to 146.55/146.00 support.