Published: 2025-01-14T01:46:55.000Z
Chart EUR/JPY Update: Turned up in consolidation from the 160.00 support
Technical Analyst
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Rebound from the 160.00 level see prices unwinding the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 160.00 | ** | congestion | |
| R3 | 164.00 | * | congestion | S2 | 158.65 | 11 Dec low | ||
| R2 | 163.00 | * | congestion | S3 | 158.00 | * | congestion | |
| R1 | 162.00 | * | congestion | S4 | 156.75 | * | Aug trendline |
Asterisk denotes strength of level
01:40 GMT - Rebound from the 160.00 level see prices unwinding the oversold intraday studies to consolidate below congestion at the 162.00 level. Break here, if seen, will open up room to the 163.00 level but gains are seen corrective and expected to give way to fresh selling pressure later. Lower high sought to further pressure the 160.00 level later and break here will see room for deeper pullback to retrace rally from the December low to the 158.65 support then the 158.00 congestion. Below the latter will see room to support at the August trendline at 156.75.