Published: 2025-04-17T01:09:45.000Z
Chart EUR/JPY Update: Consolidating, room for lower later
Technical Analyst
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Steadied at the 161.30 low as prices consolidate rejection from test of the 163.00/35 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 161.00/70 | * | congestion, 21 Mar low | |
| R3 | 164.54 | ** | 7 Jan YTD high | S2 | 160.00 | * | congestion | |
| R2 | 164.00/18 | ** | congestion, 18 Mar high | S3 | 159.00 | * | congestion | |
| R1 | 163.00/35 | * | congestion, 27 Mar high | S4 | 158.15/00 | ** | 7 Apr low, congestion |
Asterisk denotes strength of level
01:05 GMT - Steadied at the 161.30 low as prices consolidate rejection from test of the 163.00/35 resistance. Consolidation here is expected to give way to renewed selling pressure later as prices unwind overbought daily studies. Nearby see support starting at the 161.00/160.70 area and break here will open up room for retest of the 160.00 congestion. Below the latter will return focus to the downside for retest of the 159.00 level then the 158.15/158.00, 7 April low and congestion. Meanwhile, resistance at 163.00/35 area expected to cap.