Published: 2025-07-08T13:32:00.000Z
Chart USD/JPY Update: Extending gains
Senior Technical Strategist
3
Cautious trade around 146.00 has given way to a JPY-driven bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.00 | ** | congestion | S1 | 146.00 | * | break level | |
| R3 | 149.35 | ** | 50% ret of Jan-Apr fall | S2 | 145.00 | * | congestion | |
| R2 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S3 | 144.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 142.80 | * | 13 Jun (w) low |
Asterisk denotes strength of level
14:05 BST - Cautious trade around 146.00 has given way to a JPY-driven bounce, with recent gains extending to 146.80. Intraday studies have ticked higher and daily readings continue to rise, highlighting room for further strength in the coming sessions. Resistance is at 148.00 and extends to the 148.50 Fibonacci retracement. Flattening overbought weekly stochastics are expected to limit any initial tests of this critical range in consolidation. Meanwhile, a close back below 146.00 would turn sentiment neutral and prompt consolidation above congestion around 145.00.