Published: 2025-02-27T14:29:19.000Z
Chart USD/JPY Update: Consolidating - room for a minor test higher
Senior Technical Strategist
-
Little change, as prices extend consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 153.00 | ** | congestion | S1 | 149.20 | ** | 50% ret of Sep-Jan rally | |
| R3 | 152.00 | * | break level | S2 | 148.64 | ** | 3 Dec (m) low | |
| R2 | 151.00 | * | break level | S3 | 148.00 | * | congestion | |
| R1 | 150.00 | ** | congestion | S4 | 147.00 | ** | 61.8% ret of Sep-Jan rally |
Asterisk denotes strength of level
14:15 GMT - Little change, as prices extend consolidation within support at the 148.64 monthly low of 3 December and the 149.20 Fibonacci retracement. Intraday studies are rising and oversold daily stochastics are also ticking up, suggesting potential for a test above congestion resistance at 150.00. But the bearish daily Tension Indicator and negative weekly charts are expected to limit any break in renewed selling interest beneath the 151.00 break level. Meanwhile, a close below 148.64 would turn sentiment negative and extend January losses initially towards 148.00.