Published: 2025-03-21T01:26:21.000Z
Chart EUR/JPY Update: Consolidating sharp pullback, room for lower later
Technical Analyst
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No follow-through on break of the 161.00 congestion and bounce from the 160.73 low see prices unwind the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 161.00 | * | congestion | |
| R3 | 164.54 | * | 7 Jan YTD high | S2 | 160.00 | ** | congestion | |
| R2 | 164.00/30 | ** | congestion, 2023 year high | S3 | 159.70 | * | Jan low | |
| R1 | 163.00 | * | congestion | S4 | 159.00 | * | congestion |
Asterisk denotes strength of level
01:20 GMT - No follow-through on break of the 161.00 congestion and bounce from the 160.73 low see prices unwind the oversold intraday studies. However, daily studies have turned down from overbought areas and suggest bounce to give way to renewed selling pressure later. Below the 161.00 level will see room to the strong support at the 160.00 congestion then the 159.70, January low. Meanwhile, resistance is lowered to the 162.00/163.00 congestion area and this should cap and limited any bounce attempt.