An electronic device may be provided with wireless circuitry. The wireless circuitry may include wireless transceiver circuitry that transmits signals towards an antenna. A signal path may carry the transmitted signals to the antenna. Reflected signals from the antenna may be carried along the signal path towards the transceiver circuitry. Coupler circuitry may include a forward coupler that taps the transmitted signals, a first reverse coupler that taps the reflected signals from the antenna, and a second reverse coupler that taps the reflected signals that have passed through the first reverse coupler. Analog processing circuitry and digital processing circuitry may be used to produce an impedance measurement from the tapped signals from the coupler circuitry. The analog processing circuitry may include analog signal mixers, low pass filters, and analog-to-digital converter circuitry.