Published: 2025-06-09T12:50:36.000Z
Chart USD/JPY Update: Choppy in range - studies rising
Senior Technical Strategist
4
The anticipated test of congestion resistance at 145.00 has given way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S1 | 144.00 | * | congestion | |
| R3 | 148.00 | ** | break level | S2 | 142.00 | ** | congestion | |
| R2 | 146.00 | * | break level | S3 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R1 | 145.00 | * | congestion | S4 | 140.00 | congestion |
Asterisk denotes strength of level
13:40 BST - The anticipated test of congestion resistance at 145.00 has given way to a pullback, as intraday studies turn down, with prices reaching congestion support at 144.00 before bouncing to 144.60. Cautious trade is highlighted, before positive daily readings prompt fresh gains and a retest of 145.00. A break above here will open up 146.00, with rising weekly charts pointing to scope for still further gains. Meanwhile, a close below 144.00, if seen, will help to stabilise price action and prompt consolidation above congestion support at 142.00.