Published: 2025-03-17T00:53:54.000Z
Chart USD/JPY Update: Extending corrective bounce
Technical Analyst
1
Higher in consolidation from the 146.54 low of last week as prices unwind the oversold daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | S1 | 148.00 | * | congestion | |
| R3 | 151.00/30 | ** | congestion, 3 Mar high | S2 | 147.40 | * | 13 Mar low | |
| R2 | 150.00 | * | congestion | S3 | 146.54 | ** | 11 Mar YTD low | |
| R1 | 149.33 | * | 6 Mar high | S4 | 146.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Higher in consolidation from the 146.54 low of last week as prices unwind the oversold daily studies to reach resistance at the 149.00/33 area. Break here will open up room for stronger gains to the 150.00 level then the strong resistance at the 151.00/30 area. However, gains are seen corrective and expected to give way to fresh selling pressure later. Meanwhile, support is raised to the 148.00 congestion which is expected to underpin. Break here and the 147.40 support will expose the 146.54 low to retest and see room to extend losses from the January high.