Published: 2025-05-07T01:06:03.000Z
Chart USD/JPY Update: Consolidating, room for lower later
Technical Analyst
1
Steadied at the 142.35 low as prices consolidate losses from the 145.92 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 146.54 | * | Mar low | S1 | 142.00 | ** | congestion | |
| R3 | 145.92 | ** | 2 May high | S2 | 141.00 | * | intraday congestion | |
| R2 | 145.00 | * | congestion | S3 | 139.88 | ** | 22 Apr YTD low | |
| R1 | 144.00 | ** | 25 Apr high, congestion | S4 | 139.58 | ** | Sep 2024 year low |
Asterisk denotes strength of level
01:00 GMT - Steadied at the 142.35 low as prices consolidate losses from the 145.92 high of last week. Intraday studies are oversold and suggest some unwinding here but the negative daily studies suggest this giving way to renewed selling pressure later. Break of the 142.00 level will see room to the 141.00 level though potential will be for retest of the 140.00 level and 139.88, April YTD low. Meanwhile, resistance is lowered to the 144.00 level and this is expected to cap. Above here will ease the downside pressure and see potential for stronger bounce to retest 146.00 level.