Published: 2025-05-28T13:30:06.000Z
Chart USD/JPY Update: Edging higher
Senior Technical Strategist
2
Consolidation above congestion support at 144.00 is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S1 | 144.00 | * | congestion | |
| R3 | 148.00 | ** | break level | S2 | 142.00 | ** | congestion | |
| R2 | 146.00 | * | break level | S3 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R1 | 145.00 | * | congestion | S4 | 140.00 | congestion |
Asterisk denotes strength of level
14:00 BST - Consolidation above congestion support at 144.00 is giving way to a test higher, with prices currently trading around 144.70. Focus is on congestion resistance at 145.00. But mixed intraday studies are expected to limit any initial tests in consolidation, before improving daily readings prompt a break. Subsequent focus will then turn to 146.00, where mixed weekly charts could promote fresh selling interest/consolidation. Meanwhile, a test back below 144.00, if seen, should give way to range trade above congestion support at 142.00.