Chart USD/JPY Update: Consolidating at the 144.00 level

Asterisk denotes strength of level

00:30 GMT - Turned up from the 142.80 low as prices unwind the oversold intraday studies to consolidate at the 144.00 level. Daily studies are oversold as well and a stronger bounce cannot be ruled out to resistance at the 145.00/145.50 congestion area which is expected to cap. Clearance, if seen, will open up room for stronger gains to the 146.00/146.55 resistance. Consolidation is expected to give way renewed selling pressure later, below the 142.80 will see room for extension to support at 142.35/142.00 congestion area. Below this will return focus to the 140.00, April YTD low.