Published: 2025-07-15T13:03:20.000Z
Chart USD/JPY Update: Testing resistance at 148.00/50
Senior Technical Strategist
3
The anticipated test of resistance at 148.00 is giving way to short-term consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.00 | ** | congestion | S1 | 147.00 | congestion | ||
| R3 | 149.35 | ** | 50% ret of Jan-Apr fall | S2 | 146.00 | * | break level | |
| R2 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
13:55 BST - The anticipated test of resistance at 148.00 is giving way to short-term consolidation. However, daily readings continue to rise and broader weekly charts are also positive, highlighting room for further strength in the coming sessions. A break will open up the 148.50 Fibonacci retracement. But a further close above here is needed to turn sentiment outright positive and extend April gains initially to the 149.35 longer-term Fibonacci retracement. Meanwhile, support remains at congestion around 147.00. A close beneath here, if seen, should be limited in consolidation above 146.00.