Published: 2025-05-16T13:24:21.000Z
Chart USD/JPY Update: Room for a test below 145.00
Senior Technical Strategist
-
Anticipated tests lower have reached congestion support at 145.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 149.00 | * | congestion | S1 | 145.00 | * | congestion | |
| R3 | 148.50 | ** | 76.4% ret of Mar-Apr fall | S2 | 144.00 | * | congestion | |
| R2 | 148.00 | ** | break level | S3 | 143.25 | congestion | ||
| R1 | 146.00 | * | break level | S4 | 142.00 | * | congestion |
Asterisk denotes strength of level
14:10 BST - Anticipated tests lower have reached congestion support at 145.00, where unwinding oversold intraday studies are prompting a bounce back to 145.50. Daily stochastics and the daily Tension Indicator continue to track lower, highlighting room for a test below 145.00. But rising weekly charts should limit scope in renewed buying interest/consolidation above 144.00. Meanwhile, resistance remains at 146.00. A close above here would help to stabilise price action and prompt consolidation beneath 148.00.