Published: 3 March 2026,02:06
Chart The Market
NASDAQ, H4:
Nasdaq has staged a solid rebound from the 24,590 support zone, recovering roughly 1.5-2% from its recent swing low and pushing back toward the 0.382 Fibonacci level near 25,050 on the chart. After the sharp selloff earlier in February, buyers stepped in decisively at the 0.236 retracement area, stabilizing price action and forming a short-term base. The recovery has been constructive, with higher lows developing in the near term, but the index is now approaching a critical mid-range resistance band between 25,050 (0.382) and 25,425 (0.50), a zone that has repeatedly capped upside attempts.
Despite the bounce, the broader range structure remains intact, with price still trading below the 0.50 and 0.618 retracement levels. This suggests that the current move is, for now, a recovery within consolidation rather than a confirmed bullish breakout. Momentum indicators reflect this balanced tone. RSI is hovering around the 50 level, signaling neutral conditions without strong directional conviction, while MACD is attempting to turn higher with fading negative pressure, indicating that upside momentum is improving but not yet fully established.
Going forward, the reaction around 25,425 will be pivotal. A sustained break above this level could open the path toward 25,800 near the 0.618 retracement, signaling a stronger bullish rotation. Conversely, failure to clear this resistance may result in another pullback toward 24,590 support. A decisive break below that floor would shift the structure more clearly bearish and expose the 24,000 region.
Resistance Levels: 25,050.00, 25,425.00
Support Levels: 24,590.00, 23,840.00
USDJPY, H4
The USDJPY pair has extended its upward trajectory and is now consolidating just beneath the 157.50 resistance zone, with price action stabilizing after a steady multi-session advance. The recent breakout above the prior consolidation range between 152.60 and 153.90 marked a clear structural shift, and the pair continues to trade comfortably above its rising trendline support, preserving a constructive technical backdrop that reinforces the prevailing bullish bias.
A decisive clearance above the 157.50 barrier would represent a strong continuation signal, likely encouraging fresh buying interest and paving the way for a move toward the 159.30 region and potentially higher resistance levels beyond. The sustained hold above former breakout levels, particularly 155.60, provides an underlying layer of structural support that strengthens the case for further upside extension.
Momentum remains supportive of the move. RSI is holding in the upper 60s, reflecting strong but not yet extreme bullish conditions, while MACD is in positive territory with expanding histogram bars, indicating sustained upside momentum.
Resistance Levels: 157.50, 159.30
Support Levels: 155.60, 153.90
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