Published: 2025-02-28T00:57:54.000Z
Chart USD/JPY Update: Extend consolidation above 148.56 low
Technical Analyst
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Drifting narrowly in range as prices extend consolidation above the 148.56 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.55 | * | 200-day MA | S1 | 148.56 | ** | 25 Feb YTD low | |
| R3 | 152.00 | * | congestion | S2 | 148.00 | * | congestion | |
| R2 | 150.73/00 | ** | 21 Feb high, congestion | S3 | 147.35 | * | 8 Oct low | |
| R1 | 150.00 | * | congestion | S4 | 146.95 | * | 61.8% Sep/Jan rally |
Asterisk denotes strength of level
00:50 GMT - Drifting narrowly in range as prices extend consolidation above the 148.56 low. Daily studies are oversold and suggest scope for bounce here consolidate the recent sharp losses from 154.80 high. Would need to clear the 150.00 level to open up room for stronger bounce to the 150.73/151.00 resistance. Consolidation is expected to give way to fresh selling pressure later and lower further extend losses from the January high to the 148.00 level. Below this will see room for extension to the 147.35 support then 146.95, 61.8% Fibonacci level.