Published: 2025-05-15T13:15:12.000Z
Chart USD/JPY Update: Leaning lower
Senior Technical Strategist
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Cautious trade has given way to fresh losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 149.00 | * | congestion | S1 | 145.00 | * | congestion | |
| R3 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S2 | 144.00 | * | congestion | |
| R2 | 148.00 | ** | break level | S3 | 143.25 | congestion | ||
| R1 | 146.00 | * | break level | S4 | 142.00 | * | congestion |
Asterisk denotes strength of level
14:00 BST - Cautious trade has given way to fresh losses, with the anticipated break below 146.00 currently balanced around 145.75. Intraday studies are mixed/negative and daily readings are coming under pressure, highlighting room for continuation down to congestion support at 145.00. But rising weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, a close back above 146.00 would help to stabilise price action and prompt consolidation beneath 148.00.