Published: 2025-03-11T14:24:36.000Z
Chart USD/JPY Update: Cautious trade - studies under pressure
Senior Technical Strategist
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Still little change, as prices extend cautious trade above support at the 147.00 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.00 | * | break level | S1 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R3 | 150.00 | ** | congestion | S2 | 146.00 | * | congestion | |
| R2 | 149.00 | congestion | S3 | 145.00 | congestion | |||
| R1 | 148.00 | * | congestion | S4 | 144.15 | ** | 76.4% ret of Sep-Jan rally |
Asterisk denotes strength of level
14:00 GMT - Still little change, as prices extend cautious trade above support at the 147.00 Fibonacci retracement. Daily readings are mixed/negative and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. A close beneath here would add weight to sentiment and extend January losses initially towards congestion around 146.00. Meanwhile, any tests back above congestion resistance at 148.00 should meet renewed selling interest towards 149.00.