Published: 2025-07-28T13:07:03.000Z
Chart USD/JPY Update: Limited scope above 148.00
Senior Technical Strategist
2
The anticipated break above 148.00 has been pushed back from 148.45
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.20 | ** | 28 Mar (w) high | S1 | 147.00 | congestion | ||
| R3 | 150.00 | ** | congestion | S2 | 146.00 | * | break level | |
| R2 | 149.35 | ** | 50% ret of Jan-Apr fall | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
14:00 BST - The anticipated break above 148.00 has been pushed back from 148.45, as intraday studies turn down, with prices currently trading around 148.00. Oversold daily stochastics are unwinding, suggesting potential for a retest above here. But the flat daily Tension Indicator and a tick lower in overbought weekly stochastics are expected to limit scope in renewed selling interest beneath critical resistance at the 149.35 Fibonacci retracement. Meanwhile, support remains at congestion around 147.00. But a close below 146.00 is needed to turn sentiment negative and extend mid-July losses towards congestion around 145.00.