Published: 2025-08-29T12:17:54.000Z
Chart USD/JPY Update: Back in range - gains to remain limited
Senior Technical Strategist
1
The anticipated break below 147.00 has proven shallow
| 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
13:05 BST - The anticipated break below 147.00 has proven shallow, with prices bouncing from 146.65 as oversold intraday studies unwind to currently trade around 147.30. However, daily readings remain bearish and broader weekly charts are under pressure, highlighting difficulty sustaining higher levels. Resistance at 148.00 should provide a barrier into any immediate gains. Following cautious trade, fresh losses are looked for. A later break back below 147.00 will open up 146.00. A further close beneath here is needed to turn sentiment negative and extend August losses initially to congestion around 145.00.