Published: 2025-05-19T00:46:41.000Z
Chart EUR/JPY Update: Extending losses
Technical Analyst
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Prices remains under pressure following rejection from the 165.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.00 | * | congestion | |
| R3 | 165.00/20 | ** | congestion, 13 May YTD high | S2 | 161.58 | * | 6 May low | |
| R2 | 164.00 | * | congestion | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 163.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
00:40 GMT - Prices remains under pressure following rejection from the 165.00 resistance. Intraday and daily studies are unwinding overebought readings with the stretched weekly studies highlighting room for further losses to retrace the April/May rally. Lower will see room to 162.00/161.58, congestion and May low. Lower still, will see scope to strong support at the 161.00 congestion. Meanwhile, resistance is lowered to the 163.00 congestion which is expected to cap and sustain losses from the 165.20, 13 May current year high.