Chart USD/JPY Update: Fresh year highs in JPY-driven trade
Anticipated gains have extended higher in sharp JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 154.80/00 | ** | 12 Feb (w) high; cong | S1 | 150.92/10 | ** | Mar-Aug (m) highs | |
| R3 | 154.40 | ** | 76.4% ret of Jan-Apr fall | S2 | 150.00 | ** | congestion | |
| R2 | 154.00 | ** | congestion | S3 | 149.00 | * | congestion | |
| R1 | 153.00 | current 2025 year high | S4 | 148.00 | * | break level |
Asterisk denotes strength of level
13:10 BST - Anticipated gains have extended higher in sharp JPY-driven trade, with prices posting a fresh year high at 153.00 before settling back. Daily readings continue to track higher and broader weekly charts are positive, pointing to room for still further gains in the coming sessions. A break above 153.00 will extend April gains towards critical resistance at congestion around 154.00 and the 154.40 Fibonacci retracement. However, already overbought daily stochastics are expected to limit any initial tests of this range in consolidation/profit-taking. meanwhile, support is raised to the 150.92 - 151.10 monthly highs from March-August. A close beneath here, if seen, would turn sentiment neutral and prompt consolidation above congestion around 150.00.