Published: 2025-03-20T01:02:28.000Z
Chart USD/JPY Update: Extending rejection from 150.00 level
Technical Analyst
1
Extending rejection from the 150.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | S1 | 148.00 | * | congestion | |
| R3 | 151.00/30 | ** | congestion, 3 Mar high | S2 | 147.40 | * | 13 Mar low | |
| R2 | 150.00 | ** | congestion | S3 | 146.54 | ** | 11 Mar YTD low | |
| R1 | 149.00/20 | * | congestion | S4 | 146.00 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Extending rejection from the 150.00 level as prices unwind the overbought intraday and daily studies. Break of the 148.55 support opens up room for retest of the 148.00 level. Below this will return focus to the downside and see room for retest of 147.40 support then the 146.54 low. Break here will extend losses from the January high and see room to 146.00 congestion. Meanwhile, resistance is lowered to the 149.00/20 area and this is expected to cap and sustain the rejection from the 150.00 level.