Published: 2025-02-19T14:07:39.000Z
Chart USD/JPY Update: Extending consolidation - background studies under pressure
Senior Technical Strategist
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Little change, as prices extend consolidation around 151.75
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 155.00 | * | congestion mid-point | S1 | 151.00 | ** | 76.4% ret of Dec-Jan rally | |
| R3 | 154.00 | * | congestion lows | S2 | 150.00 | ** | congestion | |
| R2 | 153.00 | ** | congestion | S3 | 149.20 | ** | 50% ret of Sep-Jan rally | |
| R1 | 152.00 | * | break level | S4 | 148.64 | ** | 3 Dec (m) low |
Asterisk denotes strength of level
14:00 GMT - Little change, as prices extend consolidation around 151.75. Daily readings are coming under pressure and broader weekly charts are bearish, highlighting room for fresh losses in the coming sessions. Support remains at the 151.00 Fibonacci retracement. A close beneath here will add weight to sentiment and extend January losses initially towards congestion around 150.00. Meanwhile, an unexpected close above resistance at the 152.00 break level will help to stabilise price action and prompt consolidation beneath congestion around 153.00.