Published: 2025-09-02T12:58:29.000Z
Chart USD/JPY Update: Smart bounce in both USD- and JPY-driven trade
Senior Technical Strategist
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Cautious trade above support at 147.00 has given way to a sharp bounce in both USD- and JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.20 | ** | 28 Mar (m) high | S1 | 148.00 | * | break level | |
| R3 | 150.92 | ** | 1 Aug (w) high | S2 | 147.00 | ** | range lows | |
| R2 | 150.00 | ** | congestion | S3 | 146.00 | ** | break level | |
| R1 | 149.00 | congestion | S4 | 145.00 | * | congestion |
Asterisk denotes strength of level
13:35 BST - Cautious trade above support at 147.00 has given way to a sharp bounce in both USD- and JPY-driven trade, with prices currently balanced just below congestion resistance at 149.00. Oversold daily stochastics are unwinding and the daily Tension Indicator is also turning higher, highlighting room for a break above here. Focus will then turn to 150.00. But mixed weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, support is raised to 148.00 and extends to 147.00. This broad range should underpin any immediate setbacks.