Published: 2025-05-02T08:07:40.000Z
Chart USD/JPY Update: Consolidating gains - limited tests lower
Senior Technical Strategist
1
Anticipated gains have extended into the 145.55 - 146.00 resistance area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 147.50 | ** | congestion | S1 | 145.00 | * | congestion | |
| R3 | 146.85 | ** | 61.8% ret of Mar-Apr fall | S2 | 144.00 | * | congestion | |
| R2 | 146.00 | break level | S3 | 142.00 | * | congestion | ||
| R1 | 145.55 | ** | 50% ret of Mar-Apr fall | S4 | 141.00 | * | congestion |
Asterisk denotes strength of level
08:55 BST - Anticipated gains have extended into the 145.55 - 146.00 resistance area, where unwinding overbought intraday studies are prompting a pullback. Focus is on congestion support at 145.00, but rising daily readings and a tick higher in oversold weekly stochastics are expected to limit any break in renewed consolidation above further congestion around 144.00. Meanwhile, a close above the 145.55 Fibonacci retracement is needed to turn sentiment positive and extend late-April gains beyond 146.00 towards the 146.85 retracement.