Published: 2025-05-16T13:42:47.000Z
Chart EUR/JPY Update: Prices remain under pressure
Senior Technical Strategist
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Anticipated losses have reached 162.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.00 | * | congestion | |
| R3 | 165.00 | * | break level | S2 | 161.00 | break level | ||
| R2 | 164.00 | ** | break level | S3 | 160.00 | ** | congestion | |
| R1 | 163.20 | break level | S4 | 158.16 | ** | 7 Apr (m) low |
Asterisk denotes strength of level
14:30 BST - Anticipated losses have reached 162.50, where unwinding oversold intraday studies are prompting a bounce towards resistance at 163.20. Daily stochastics and the daily Tension Indicator continue to track lower, and overbought weekly stochastics are also turning down, highlighting room for extension of losses towards congestion support at 162.00. But the positive weekly Tension Indicator is expected to limit any initial break in renewed consolidation above 161.00. Meanwhile, a close above 163.20, if seen, will help to stabilise price action and give way to consolidation beneath 164.00.