Published: 2025-07-15T01:06:20.000Z
Chart USD/JPY Update: Extending gains
Technical Analyst
1
Extending gains towards the 148.00 level but overbought intraday studies see momentum slowing and reaction here likely
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.00 | ** | congestion | S1 | 146.00 | * | congestion | |
| R3 | 149.40 | * | 50% Jan/Apr fall | S2 | 145.20/00 | * | 3 Jul high, congestion | |
| R2 | 148.65 | ** | May high | S3 | 144.00 | * | congestion | |
| R1 | 148.00 | ** | Jun high | S4 | 142.68 | ** | 1 Jul low |
Asterisk denotes strength of level
01:00 GMT - Extending gains towards the 148.00 level but overbought intraday studies see momentum slowing and reaction here likely. However, daily and weekly studies remains positive and suggest scope for break later to open up room for retest of the May high at 148.65. Clearance here, if seen, will extend the broader consolidation from the 140.00, April low. Meanwhile, support at the 146.55/146.00 area underpin. Would take break here to fade the upside pressure and return focus to the downside to retrace gains from 142.68 low.