Published: 24/04/25 at 08:03 UTC
Chart USD/JPY Update: Consolidating sharp gains - daily studies rising
Senior Technical Strategist
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Anticipated tests higher have met renewed selling interest around 143.57
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 146.00 | break level | S1 | 142.00 | * | congestion | ||
| R3 | 145.00 | * | congestion | S2 | 141.00 | * | congestion | |
| R2 | 144.00 | * | congestion | S3 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R1 | 143.57 | 23 Apr high | S4 | 140.00 | ** | congestion |
Asterisk denotes strength of level
08:50 BST - Anticipated tests higher have met renewed selling interest around 143.57, as intraday studies turn down, with prices currently trading around 142.65. Continuation down to congestion support at 142.00 cannot be ruled out. But rising daily readings are expected to limit any initial tests in fresh consolidation. A break, however, will add weight to sentiment and open up congestion around 141.00, where further range trade is looked for. Following cautious trade, focus is expected to turn back to congestion resistance at 144.00. A break will open up 145.00, where mixed weekly charts could promote renewed selling interest.