Published: 2025-07-04T12:50:44.000Z
Chart USD/JPY Update: Consolidating
Senior Technical Strategist
7
The anticipated test above congestion resistance at 145.00 has been pushed back from 145.25
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S1 | 144.00 | * | congestion | |
| R3 | 148.00 | ** | break level | S2 | 142.80 | * | 13 Jun (w) low | |
| R2 | 146.00 | * | break level | S3 | 142.00/10 | ** | cong; 27 May (m) low | |
| R1 | 145.00 | * | congestion | S4 | 140.00 | ** | congestion |
Asterisk denotes strength of level
13:35 BST - The anticipated test above congestion resistance at 145.00 has been pushed back from 145.25, as overbought intraday studies unwind, with prices currently balanced around 144.45. Daily readings continue to track higher and broader weekly charts are positive, pointing to room for a fresh break above 145.00. However, weekly stochastics are already overbought, suggesting initial scope could be limited in renewed consolidation beneath 146.00, before prices continue higher. Meanwhile, support remains at congestion around 144.00. A close beneath here, if seen, should give way to consolidation above 142.80.