Published: 2025-08-04T13:10:24.000Z
Chart USD/JPY Update: Leaning lower in JPY-driven trade
Senior Technical Strategist
2
The anticipated break below 148.00 has reached 147.00 in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.50 | ** | 61.8% ret of Jan-Apr fall | S1 | 147.00 | congestion | ||
| R3 | 151.20 | ** | 28 Mar (w) high | S2 | 146.00 | * | break level | |
| R2 | 150.00 | ** | congestion | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | ** | break level | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
14:00 BST - The anticipated break below 148.00 has reached 147.00 in JPY-driven trade. Intraday studies are bearish and daily readings are under pressure, highlighting room for still deeper losses in the coming sessions. A break will open up 146.00. But rising weekly charts are expected to limit any initial tests in consolidation. A break, however, will add weight to sentiment and confirm a deeper pullback from the 150.90~ weekly high of 1 August. Meanwhile, resistance is lowered to 148.00. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath congestion around 150.00.