Chart USD/JPY Update: Consolidating test of 142.00, room for lower
Break of the 142.00 level has seen losses checked at 141.60 low as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | * | congestion | S1 | 141.60 | intraday low | ||
| R3 | 146.54 | ** | Mar low | S2 | 141.00 | * | congestion | |
| R2 | 144.55 | * | 4 Apr low | S3 | 140.00 | ** | figure | |
| R1 | 144.00 | * | congestion | S4 | 139.58 | ** | Sep 2024 year low |
Asterisk denotes strength of level
00:50 GMT - Break of the 142.00 level has seen losses checked at 141.60 low as prices unwind oversold intraday studies. However, pressure remains on the downside and clear break here will see room to congestion at the 141.00 level. Lower still, will see scope for retest of the 140.00 figure and the 139.58, 2024 year low. Meanwhile, resistance remains at the 144.00 congestion which extend to the 144.55, 4 April low. This area is expected to cap and sustain losses from the from the 151.20, 28 February high. Gains above here, if seen, will open up room for stronger bounce to the 146.00/146.54, congestion and March low.