Published: 2025-07-24T13:15:47.000Z
Chart USD/JPY Update: Gains to remain limited
Senior Technical Strategist
1
The anticipated test of support at 146.00 has bounced
| 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 | 148.00 | ** | break level | S3 | 144.00 | * | congestion | |
| R1 | 147.00 | congestion | S4 | 143.00 | * | congestion |
Asterisk denotes strength of level
14:10 BST - The anticipated test of support at 146.00 has bounced, as intraday studies turn higher, with prices currently trading around 146.70. Immediate focus is back on congestion resistance at 147.00. But negative daily readings and flattening overbought weekly stochastics are expected to limit any break in renewed selling interest beneath 148.00. Following cautious trade, fresh losses are looked for. A later close below 146.00 will add weight to sentiment and extend mid-July losses towards congestion around 145.00.