Published: 2025-07-09T13:12:27.000Z
Chart USD/JPY Update: Settling back, but studies continue to rise
Senior Technical Strategist
2
Anticipated gains have reached 147.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 149.35 | ** | 50% ret of Jan-Apr fall | S1 | 146.00 | * | break level | |
| R3 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S2 | 145.00 | * | congestion | |
| R2 | 148.00 | ** | break level | S3 | 144.00 | * | congestion | |
| R1 | 147.00 | minor congestion | S4 | 142.80 | * | 13 Jun (w) low |
Asterisk denotes strength of level
14:00 BST - Anticipated gains have reached 147.00, where unwinding negative divergence on falling intraday studies is prompting a pullback. Prices are currently trading around 146.45, but rising daily readings and mixed/positive weekly charts should limit any deeper losses in renewed buying interest towards support at 146.00. Following cautious trade, fresh gains are looked for. However, flattening overbought weekly stochastics are expected to limit scope in fresh selling interest towards strong resistance at 148.00 and the 148.50 Fibonacci retracement.