Published: 2025-03-14T01:03:37.000Z
Chart USD/JPY Update: Limited on bounce attempt
Technical Analyst
1
Settled back to consolidate at the 148.00 level following rejection from the wedge resistance at the 149.00 level
| 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 | 149.33 | * | 6 Mar high | S3 | 145.00 | * | congestion | |
| R1 | 148.55 | * | Feb low | S4 | 144.15 | * | 76.4% Sep/Jan rally |
Asterisk denotes strength of level
01:00 GMT - Settled back to consolidate at the 148.00 level following rejection from the wedge resistance at the 149.00 level. Daily studies are unwinding the oversold readings and stronger corrective bounce cannot be ruled out. Above the 149.00/33 resistance will see room to the 150.00 level then the strong resistance at the 151.00/30 area. Corrective bounce expected to give way to fresh selling pressure later and break of the 146.95 Fibonacci level and 146.55 low will extend losses from the January high towards the 146.00/145.00 congestion area.