Published: 2025-02-19T14:27:08.000Z
Chart EUR/JPY Update: Leaning lower
Senior Technical Strategist
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Cautious trade is giving way to the anticipated drift lower to support at 158.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 162.00 | congestion | S1 | 158.00 | * | break level | ||
| R3 | 161.75 | break level | S2 | 157.00 | * | congestion | ||
| R2 | 161.00 | break level | S3 | 155.50 | * | 10 Feb low | ||
| R1 | 160.00 | * | congestion | S4 | 155.14 | * | 16 Sep (m) low |
Asterisk denotes strength of level
14:20 GMT - Cautious trade is giving way to the anticipated drift lower to support at 158.00, as intraday studies turn down, with prices currently balanced around 150.20. Daily readings are also under pressure and broader weekly charts are negative, highlighting room for a later break and continuation down to congestion support at 157.00. Meanwhile, resistance is at congestion around 160.00, but a close above 161.00 is needed to improve sentiment and open up congestion around 162.00.