Chart USD/JPY Update: Extending losses
Under pressure and break of the 144.00/143.75, congestion and low of last week, see prices extending losses from the 148.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | ** | 23 Jun high | S1 | 142.79 | * | 13 Jun low | |
| R3 | 146.55 | ** | Mar low | S2 | 142.10/00 | ** | May low, congestion | |
| R2 | 146.00 | * | congestion | S3 | 141.00 | figure | ||
| R1 | 145.00/26 | * | congestion, 26 Jun high | S4 | 139.88 | ** | 22 Apr YTD low |
Asterisk denotes strength of level
00:50 GMT - Under pressure and break of the 144.00/143.75, congestion and low of last week, see prices extending losses from the 148.00 high. Negative daily studies keeps pressure firmly on the downside turn focus to the series of higher lows starting at 142.79, 13 June low. Break here will see room for retest of support at the 142.10/00 congestion and May low. Below this will return focus to the 140.00 level and 139.88 April current year low. Meanwhile, resistance is lowered to 145.00/26 congestion and 26 June high which is expected to cap and sustain losses from the 148.00 bounce high.