Published: 2025-03-31T07:49:08.000Z
Chart USD/JPY Update: Under pressure
Senior Technical Strategist
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The pullback from resistance at the 151.00/25 range is extending
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | 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 | 146.55~ | ** | 11 Mar YTD low |
Asterisk denotes strength of level
08:40 BST - The pullback from resistance at the 151.00/25 range is extending, with prices currently pressuring congestion support at 149.00. Intraday studies are oversold, suggesting potential for short-term consolidation around here. But daily readings are negative, highlighting room for a break and continuation of selling interest towards congestion support at 148.00. However, rising oversold weekly stochastics are expected to limit any initial tests in fresh consolidation. Meanwhile, resistance is at congestion around 150.00 and should cap any immediate tests higher.