Published: 2025-03-18T13:58:12.000Z
Chart USD/JPY Update: Higher in JPY-driven trade
Senior Technical Strategist
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Steady gains have broken above 149.00 in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | break level | S1 | 149.00 | congestion | ||
| R3 | 151.25 | ** | 38.2% ret of Jan-Mar fall | S2 | 148.00 | * | congestion | |
| R2 | 151.00 | * | break level | S3 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R1 | 150.00 | ** | congestion | S4 | 146.00 | * | congestion |
Asterisk denotes strength of level
13:45 GMT - Steady gains have broken above 149.00 in JPY-driven trade to reach congestion resistance at 150.00, where unwinding overbought intraday studies are prompting short-term reactions. Daily readings continue to strengthen, highlighting room for a test above here. But mixed/negative weekly charts are expected to limit scope in renewed selling interest towards resistance at 151.00 and the 151.25 Fibonacci retracement. Meanwhile, a close back below 149.00, if seen, will turn sentiment neutral once again and prompt consolidation above further congestion around 148.00.