Published: 2025-06-02T13:10:59.000Z
Chart USD/JPY Update: Prices remain under pressure
Senior Technical Strategist
1
Anticipated losses have reached 142.65
| 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
14:00 BST - Anticipated losses have reached 142.65, where flattening oversold intraday studies are prompting short-term reactions. Daily readings have turned down and broader weekly charts are also under pressure, highlighting room for further losses in the coming sessions. Focus remains on congestion support at 142.00. But a further break, initially targeting the 140.50 Fibonacci retracement, cannot be ruled out. Meanwhile, resistance remains at congestion around 144.00. An unexpected close above here would help to stabilise price action and prompt consolidation beneath further congestion around 145.00.