Published: 2025-05-05T00:51:05.000Z
Chart USD/JPY Update: Consolidating, room for higher later
Technical Analyst
1
Settled back in consolidation from test of the 146.00 resistance as prices unwind overbought intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.55 | * | Feb low | S1 | 144.50 | * | intraday congestion | |
| R3 | 148.00 | ** | congestion | S2 | 144.00 | ** | 9 Apr low, congestion | |
| R2 | 146.54 | * | Mar low | S3 | 143.00 | * | congestion | |
| R1 | 146.00 | * | congestion | S4 | 142.00 | ** | congestion |
Asterisk denotes strength of level
00:40 GMT - Settled back in consolidation from test of the 146.00 resistance as prices unwind overbought intraday and daily studies. Pullback see support at the 144.50/144.00 congestion area and consolidation here expected to give way to fresh buying interest later. Positive weekly studies suggest room for further gains later to retrace the January/April losses. Close above the 146.00 congestion will further extend gains towards resistance at the March low at 146.54. Higher still, will see potential to the 147.00/148.00 congestion area.