Published: 2025-08-08T00:58:46.000Z
Chart USD/JPY Update: Bear flag threatens break lower
Technical Analyst
1
Still limited below the 147.00 level as prices extend consolidation above the 146.55 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.90/00 | ** | 7 Feb low, congestion | S1 | 146.55 | * | Mar low | |
| R3 | 149.00 | * | congestion | S2 | 146.00 | ** | congestion | |
| R2 | 148.65 | ** | May high | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | * | Jun high | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Still limited below the 147.00 level as prices extend consolidation above the 146.55 support. However, pressure building on the downside with the resulting flag pattern suggesting eventual break likely to extend the sharp drop from the 150.92 high and further retrace the broad choppy April/August gains. Break of strong support at 146.55/146.00 will extend losses to the 145.00 congestion and 144.00, April channel support. Resistance remains at the 148.00 congestion. Higher will expose strong resistance at the 148.65/149.00 area.