Published: 2025-03-10T00:42:19.000Z
Chart USD/JPY Update: Consolidating, but still heavy
Technical Analyst
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Consolidating test of the 146.95 Fibonacci level as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.00/30 | ** | congestion, 3 Mar high | S1 | 146.95 | * | 61.8% Sep/Jan rally | |
| R3 | 150.00 | * | congestion | S2 | 146.00 | * | congestion | |
| R2 | 148.55 | * | Feb low | S3 | 145.00 | * | congestion | |
| R1 | 148.00 | * | congestion | S4 | 144.15 | * | 76.4% Sep/Jan rally |
Asterisk denotes strength of level
00:40 GMT - Consolidating test of the 146.95 Fibonacci level as prices unwind oversold intraday studies. However, shallow bounce here keeps pressure firmly on the downside and this is expected to give way to fresh selling pressure later. Lower will further extend losses from the January high and see room to the 146.00/145.00 congestion. Meanwhile, resistance is lowered to 148.00 level which extend to the 148.55 low of February which is expected to cap. Only above here will open up room for stronger corrective bounce to the 150.00 congestion.