Published: 2025-05-06T01:01:26.000Z
Chart USD/JPY Update: Extending corrective pullback
Technical Analyst
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Leaning lower in consolidation from test of the 146.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 148.00 | ** | congestion | S1 | 143.00 | * | congestion | |
| R3 | 146.54 | * | Mar low | S2 | 142.00 | ** | congestion | |
| R2 | 146.00 | * | congestion | S3 | 141.00 | * | intraday congestion | |
| R1 | 145.00 | * | 5 May high | S4 | 139.88 | ** | 22 Apr YTD low |
Asterisk denotes strength of level
00:55 GMT - Leaning lower in consolidation from test of the 146.00 resistance as prices unwind overbought intraday and daily studies. Break of the 144.00 congestion area opens up room for deeper pullback to retrace rally from the 140.00 figure. Lower will see room to the 143.00/142.00 congestion aree. Corrective pullback is expected to give way to fresh buying interest later to retrace the January/April losses. Close above the 146.00 congestion will further extend gains towards resistance at the March low at 146.54. Higher still, will see potential to the 147.00/148.00 congestion area.