Published: 2025-05-29T13:38:40.000Z
Chart USD/JPY Update: Limited downside tests
Senior Technical Strategist
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The anticipated break above 145.00 has met strong selling interest at 146.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S1 | 144.00 | * | congestion | |
| R3 | 148.00 | ** | break level | S2 | 142.00 | ** | congestion | |
| R2 | 146.00 | * | break level | S3 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R1 | 145.00 | * | congestion | S4 | 140.00 | congestion |
Asterisk denotes strength of level
14:20 BST - The anticipated break above 145.00 has met strong selling interest at 146.00, in both USD- and JPY-driven trade, with prices once again trading below 145.00. Intraday studies have turned down, highlighting room for a test of congestion support at 144.00. But rising daily readings and mixed/positive weekly charts are expected to limit any break in consolidation above further congestion around 142.00. Meanwhile, a close above congestion resistance at 145.00, not yet seen, will improve price action and put focus back on 146.00.