Published: 2025-05-08T00:57:57.000Z
Chart USD/JPY Update: Range-bound in consolidation
Technical Analyst
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Steadied at the 142.35 low as prices consolidate losses from the 145.92 high of last week to retest the 144.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 146.54 | * | Mar low | S1 | 142.35 | * | 6 May low | |
| R3 | 145.92 | ** | 2 May high | S2 | 142.00 | ** | congestion | |
| R2 | 145.00 | * | congestion | S3 | 141.00 | * | intraday congestion | |
| R1 | 144.00 | ** | 25 Apr high, congestion | S4 | 139.88 | ** | 22 Apr YTD low |
Asterisk denotes strength of level
00:50 GMT - Steadied at the 142.35 low as prices consolidate losses from the 145.92 high of last week to retest resistance at the 144.00 level. Prices unwind the oversold intraday studies and break here will fade the downside pressure and see potential to retest the 145.92/146.00 resistance. Clearance here will see room for stronger bounce to retrace losses from the 158.87, January high. Meanwhile, support at the 142.35 low underpin. Break here and the 142.00 congestion is needed to open up the 140.00 level to retest.