Published: 2025-03-07T14:28:51.000Z
Chart USD/JPY Update: Poised to extend January losses
Senior Technical Strategist
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Little change, as prices extend cautious trade above support at the 147.00 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.00 | * | break level | S1 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R3 | 150.00 | ** | congestion | S2 | 146.00 | * | congestion | |
| R2 | 149.00 | congestion | S3 | 145.00 | congestion | |||
| R1 | 148.00 | * | congestion | S4 | 144.15 | ** | 76.4% ret of Sep-Jan rally |
Asterisk denotes strength of level
14:15 GMT - Little change, as prices extend cautious trade above support at the 147.00 Fibonacci retracement. Daily readings are under pressure and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend January losses initially towards congestion around 146.00. Meanwhile, any tests back above congestion resistance at 148.00 should meet renewed selling interest towards 149.00.