Published: 2025-05-09T13:27:40.000Z
Chart USD/JPY Update: Consolidating gains - studies continue to improve
Senior Technical Strategist
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Anticipated gains have reached resistance within the 145.55 Fibonacci retracement and the 146.00 break level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | ** | break level | S1 | 145.00 | * | congestion | |
| R3 | 146.85 | ** | 61.8% ret of Mar-Apr fall | S2 | 144.00 | * | congestion | |
| R2 | 146.00 | * | break level | S3 | 142.00 | * | congestion | |
| R1 | 145.55 | ** | 50% ret of Mar-Apr fall | S4 | 141.00 | * | congestion |
Asterisk denotes strength of level
14:15 BST - Anticipated gains have reached resistance within the 145.55 Fibonacci retracement and the 146.00 break level, where unwinding overbought intraday studies are prompting short-term reactions. Focus is on congestion support at 145.00. But rising daily readings and improving weekly charts are expected to limit any break in renewed buying interest towards further congestion around 144.00. In the coming sessions, further gains are looked for. However, a close above 145.55/00 is needed to turn sentiment positive and extend April gains towards the 146.85 retracement.