Chart USD/JPY Update: Lower in range - studies under pressure
The anticipated test above resistance at 148.00 has met selling interest around 148.15
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.92 | ** | 1 Aug (w) high | S1 | 147.00 | ** | range lows | |
| R3 | 150.00 | ** | congestion | S2 | 146.00 | ** | break level | |
| R2 | 149.00 | congestion | S3 | 145.00 | * | congestion | ||
| R1 | 148.00 | * | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
13:25 BST - The anticipated test above resistance at 148.00 has met selling interest around 148.15, as overbought intraday studies unwind, with steady losses currently pressuring support at 147.00. Daily readings have turned down and broader weekly charts are now coming under pressure, highlighting room for fresh losses in the coming sessions. A break below 147.00 will open up 146.00. However, a further close beneath here is needed to turn sentiment negative and extend August losses initially to congestion around 145.00. Meanwhile, any fresh tests above 148.00 should meet selling interest towards congestion resistance at 149.00.