Published: 2025-03-12T00:57:12.000Z
Chart USD/JPY Update: Higher in consolidation
Technical Analyst
1
No follow-through on break of the 146.95 Fibonacci level as prices unwind the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 151.00/30 | ** | congestion, 3 Mar high | S1 | 146.95 | * | 61.8% Sep/Jan rally | |
| R3 | 150.00 | * | congestion | S2 | 146.00 | * | congestion | |
| R2 | 149.33 | * | 6 Mar high | S3 | 145.00 | * | congestion | |
| R1 | 148.55 | * | Feb low | S4 | 144.15 | * | 76.4% Sep/Jan rally |
Asterisk denotes strength of level
00:50 GMT - No follow-through on break of the 146.95 Fibonacci level as prices unwind the oversold intraday studies. Daily studies are stretched as well and bounce from the 146.54 low to regain the 148.00 level will see room for 148.55 resistance. Break here will see room for stronger recovery within the wedge pattern to the 149.33 resistance. Correction expected to give way to fresh selling pressure later and clear break of the 146.95 support will further extend losses from the January high to the 146.00/145.00 congestion area.