Published: 2025-10-07T13:10:49.000Z
Chart USD/JPY Update: Room for higher
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Cautious trade has given way to fresh gains in USD- and JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | ** | congestion | S1 | 150.00 | ** | congestion | |
| R3 | 151.60 | ** | 61.8% ret of Jan-Apr fall | S2 | 149.00 | * | congestion | |
| R2 | 151.20 | ** | 28 Mar (m) high | S3 | 148.00 | * | break level | |
| R1 | 150.92 | ** | 1 Aug (m) high | S4 | 147.00 | ** | range lows |
Asterisk denotes strength of level
14:00 BST - Cautious trade has given way to fresh gains in USD- and JPY-driven trade, with prices currently consolidating the test of strong resistance at the 150.92 monthly high of 1 August and the 151.20 monthly high of 28 March. Daily readings continue to rise and broader weekly charts are ticking up, suggesting room for further strength in the coming sessions. A close above here will turn sentiment positive and extend April gains, initially to the 151.60 Fibonacci retracement. Meanwhile, support is raised to congestion around 150.00. A close beneath here would turn sentiment neutral and prompt consolidation above 149.00.