Published: 2025-06-04T13:37:14.000Z
Chart EUR/JPY Update: Choppy in range - daily studies edging higher
Senior Technical Strategist
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Consolidation around support at 163.00 has given way to a bounce to 164.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | 31 Oct (m) high | S1 | 163.00 | * | break level | |
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | break level | S3 | 161.00 | break level | ||
| R1 | 164.00 | ** | break level | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
14:30 BST - Consolidation around support at 163.00 has given way to a bounce to 164.00, before settling lower to 163.80 as overbought intraday studies unwind. Daily readings have turned higher once again, suggesting room for a test above 164.00. But mixed weekly charts are expected to limit initial scope in renewed selling interest towards 165.00. Meanwhile, a break below 163.00 would open up congestion around 162.00. However, fresh consolidation is expected to appear towards here.