Published: 2025-05-27T12:59:34.000Z
Chart USD/JPY Update: Limited gains in JPY-driven trade
Senior Technical Strategist
3
Cautious trade has met sharp buying interest just above congestion support at 142.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | ** | break level | S1 | 142.00 | ** | congestion | |
| R3 | 146.00 | * | break level | S2 | 140.50 | ** | 61.8% ret of 2023-2024 rally | |
| R2 | 145.00 | * | congestion | S3 | 140.00 | congestion | ||
| R1 | 144.00 | * | congestion | S4 | 139.58 | ** | 16 Sep 2024 (y) low |
Asterisk denotes strength of level
13:35 BST - Cautious trade has met sharp buying interest just above congestion support at 142.00, as intraday studies turn higher once again, with JPY-driven gains currently pressuring congestion resistance at 144.00. The rising daily Tension Indicator highlights room for continuation towards further congestion around 145.00. But flattening overbought daily stochastics and deteriorating weekly charts are expected to prompt renewed selling interest around here. Meanwhile, support remains at 142.00. A later close beneath here will add weight to sentiment and extend May losses initially to the 140.50 Fibonacci retracement.