Published: 2025-06-23T12:49:35.000Z
Chart USD/JPY Update: Higher in USD- and JPY-driven trade
Senior Technical Strategist
1
Cautious trade has given way to sharp gains in both USD- and JPY-driven trade
| 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
13:40 BST - Cautious trade has given way to sharp gains in both USD- and JPY-driven trade, with the break above 146.00 opening up resistance at 148.00. Overbought intraday studies are unwinding, suggesting potential for consolidation beneath here, before rising daily readings and positive weekly charts prompt a break. Focus will then turn to the 148.50 Fibonacci retracement, with a further close above here extending April gains towards the 149.35 Fibonacci retracement. Meanwhile, support is raised to 146.00 and should underpin any immediate setbacks.