Published: 2025-03-24T01:22:39.000Z
Chart USD/JPY Update: Poised for retest of 150.00
Technical Analyst
2
Extending bounce from the 148.55/148.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | S1 | 148.55 | * | Feb low | |
| R3 | 151.30 | * | Mar high | S2 | 148.00 | * | congestion | |
| R2 | 151.00 | ** | congestion | S3 | 147.40 | * | 13 Mar low | |
| R1 | 150.00 | ** | congestion | S4 | 146.54 | ** | 11 Mar YTD low |
Asterisk denotes strength of level
01:10 GMT - Extending bounce from the 148.55/148.00 support with break above the 149.00/20 resistance returning focus to the 150.0 level. Positive daily studies suggest scope for break here to extend bounce from the 11 March YTD low at 146.54 to retrace losses from the January high. Clearance will see room for stronger gains to the 151.00/30 congestion and March high. Meanwhile, support at the 148.55/148.00 congestion area expected to underpin. Below this will return focus to the downside to retest of 147.40 support then the 146.54 low.