Published: 2025-03-14T14:10:04.000Z
Chart USD/JPY Update: Range extension - limited tests higher
Senior Technical Strategist
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Little change, as prices extend cautious trade within the 148.00 - 149.00 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | break level | S1 | 148.00 | * | congestion | |
| R3 | 151.00 | * | break level | S2 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R2 | 150.00 | ** | congestion | S3 | 146.00 | * | congestion | |
| R1 | 149.00 | congestion | S4 | 145.00 | congestion |
Asterisk denotes strength of level
14:00 GMT - Little change, as prices extend cautious trade within the 148.00 - 149.00 range. Daily readings are rising, highlighting an improvement in price action and potential for renewed gains in the coming sessions. A close above 149.00 will open up congestion around 150.00. But mixed/negative weekly charts are expected to limit any extension beyond here in selling interest towards 151.00. Meanwhile, support is at 148.00. But a close below the 147.00 Fibonacci retracement is needed to turn sentiment negative and extend January losses initially towards congestion around 146.00.