Published: 2024-12-20T01:51:19.000Z
Chart EUR/JPY Update: Extending gains
Technical Analyst
1
Rebound from the 160.00 level to break the 162.00 resistance has seen prices reaching 163.80 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.69 | ** | Oct high | S1 | 162.48 | * | 17 Dec high | |
| R3 | 166.00/10 | * | congestion, 6 Nov high | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | congestion | S3 | 161.00 | * | congestion | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
01:45 GMT - Rebound from the 160.00 level to break the 162.00 resistance has seen prices reaching 163.80 high before settling lower in consolidation. Pause at the latter see prices unwinding overbought intraday studies but positive daily and weekly studies suggest this giving way to renwed buying interest later. Gains above the 164.00 congestion will open up room to the 165.00/166.00 area. Meanwhile, support is raised to the 162.48/162.00 area which should underpin and sustain gains from the 156.18, December low.