Published: 2025-04-02T13:01:51.000Z
Chart USD/JPY Update: Consolidating - room for lower
Senior Technical Strategist
2
Choppy trade within the 149.00 - 150.00 range is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | S1 | 149.00 | congestion | ||
| R3 | 151.25 | ** | 38.2% ret of Jan-Mar fall | S2 | 148.00 | * | congestion | |
| R2 | 151.00 | * | break level | S3 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R1 | 150.00 | ** | congestion | S4 | 146.55~ | ** | 11 Mar YTD low |
Asterisk denotes strength of level
13:50 BST - Choppy trade within the 149.00 - 150.00 range is giving way to a pullback, with prices approaching congestion support at 149.00. Intraday studies have turned down and daily readings are also under pressure, highlighting room for a later break beneath here towards further congestion around 148.00. However, rising oversold weekly stochastics are expected to limit any initial tests in fresh consolidation. Meanwhile, resistance is at congestion around 150.00 and should continue to cap any immediate tests higher.