Published: 2025-03-07T01:16:10.000Z
Chart EUR/JPY Update: Lower in consolidation from 161.27 high
Technical Analyst
-
No follow-through on break above the 161.00 level as prices unwind overbought intraday studies from the 161.27 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 162.00 | * | congestion | S1 | 159.20 | * | 4 Mar high | |
| R3 | 161.50 | * | congestion | S2 | 158.50 | * | congestion | |
| R2 | 161.00/27 | ** | congestion, 6 Mar high | S3 | 158.00 | * | congestion | |
| R1 | 160.00 | * | congestion | S4 | 156.16 | * | Dec low |
Asterisk denotes strength of level
01:10 GMT - No follow-through on break above the 161.00 level as prices unwind overbought intraday studies from the 161.27 high. Pullback see support starting at 159.20 then the 158.50 congestion and break of these needed to turn focus lower for retest of the 158.00 congestion. Below this will return focus to the downside for retest of the 156.16/154.79, December and February lows. Meanwhile, the 161.00/27 resistance now expected to cap. Break here, if seen, will see room for stronger extension to 162.00 congestion and 162.70, October trendline.