Chart USD/JPY Update: Weighing on 145.00, break in focus
Weighing on support at the 145.00 congestion with risk for break here to extend losses from the 148.65 corrective high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.65 | ** | 12 May high | S1 | 145.00 | * | congestion | |
| R3 | 148.00 | * | congestion | S2 | 144.00 | ** | congestion, 25 Apr high | |
| R2 | 146.55 | * | Mar low | S3 | 142.35 | * | 6 May low | |
| R1 | 146.00 | ** | congestion | S4 | 142.00 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Weighing on support at the 145.00 congestion with risk for break here to extend losses from the 148.65 corrective high of last week. Negative daily studies highlights scope for break here to open up room to strong support at the 144.00 congestion where reaction can be expected. However, consolidation here is expected to give way to renewed selling pressure later and below this will return focus to the downside for retest of 142.35/142.00 area. Meanwhile, resistance is lowered to the 146.00 congestion and this extend to the March low at 146.55 which is expected to cap.