Published: 2025-07-01T13:22:18.000Z
Chart USD/JPY Update: Room for lower
Senior Technical Strategist
-
Cautious trade has given way to anticipated losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | ** | break level | S1 | 142.80 | * | 13 Jun (w) low | |
| R3 | 146.00 | * | break level | S2 | 142.00/10 | ** | cong; 27 May (m) low | |
| R2 | 145.00 | * | congestion | S3 | 140.00 | ** | congestion | |
| R1 | 144.00 | * | congestion | S4 | 139.58 | ** | Sep 2024 (y) low |
Asterisk denotes strength of level
14:05 BST - Cautious trade has given way to anticipated losses, with prices reaching support at the 142.80 weekly low of 13 June. Oversold intraday studies are prompting short-term reactions around here, but daily readings are under pressure and rising weekly charts are flattening, suggesting room for further losses in the coming sessions. A close beneath here will add weight to sentiment and open up stronger support at 142.00/10. Meanwhile, resistance is lowered to congestion around 144.00. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 145.00.