Published: 2025-08-20T00:59:30.000Z
Chart USD/JPY Update: Extending consolidation below 148.00
Technical Analyst
3
Extending consolidation below the 148.00 level but pressure remains on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 150.90/00 | ** | 7 Feb low, congestion | S1 | 147.00 | congestion | ||
| R3 | 149.00 | * | congestion | S2 | 146.55 | * | Mar low | |
| R2 | 148.65 | ** | May high | S3 | 146.00 | ** | congestion | |
| R1 | 148.00 | * | Jun high | S4 | 145.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Extending consolidation below the 148.00 level but pressure remains on the upside following bounce from strong support at the 146.55/146.00 area last week. Daily studies have turned up from oversold areas and suggest scope to extend gains to the strong resistance at the 148.65/149.00 area. Clearance will return focus to the 150.00 level. Meanwhile, support remains at the 147.00 level ahead of the 146.55/146.00 area which is expected to underpin. Only below here will open up room for deeper pullback to retrace the broad choppy April/August gains.