Published: 2025-05-13T12:51:36.000Z
Chart USD/JPY Update: Consolidating test of 148.00/50 - studies rising
Senior Technical Strategist
1
Anticipated gains have reached resistance within 148.00 and the 148.50 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.00 | ** | break level | S1 | 146.00 | * | break level | |
| R3 | 149.00 | * | congestion | S2 | 145.00 | * | congestion | |
| R2 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S3 | 144.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 142.00 | * | congestion |
Asterisk denotes strength of level
13:40 BST - Anticipated gains have reached resistance within 148.00 and the 148.50 Fibonacci retracement, where negative intraday studies are prompting short-term reactions. Overbought daily stochastics are also flattening, highlighting room for a test below 148.00. But the positive daily Tension Indicator and rising weekly charts should limit losses in renewed buying interest above support at 146.00. Following cautious trade, fresh gains are looked for. But a close above 148.50 is needed to turn sentiment positive and extend April gains towards 149.00.