Chart USD/JPY Update: Focus on 142.00
Steady selling interest from congestion around 144.00 has reached 142.60, where flattening oversold intraday studies are prompting short-term reaction
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 146.00 | break level | S1 | 142.00 | * | congestion | ||
| R3 | 145.55 | ** | 50% ret of Mar-Apr fall | 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
13:50 BST - Steady selling interest from congestion around 144.00 has reached 142.60, where flattening oversold intraday studies are prompting short-term reactions. Overbought daily stochastics are unwinding and the rising daily Tension Indicator is showing early signs of flattening, suggesting a deterioration in sentiment and room for continuation towards congestion support at 142.00. A further break will open up 141.00. But oversold weekly stochastics are unwinding, suggesting any initial tests could give way to consolidation. Meanwhile, a close above 144.00, if seen, will turn sentiment neutral and prompt consolidation beneath further congestion around 145.00.