Published: 2025-05-20T00:56:42.000Z
Chart EUR/JPY Update: Consolidating, room for lower later
Technical Analyst
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Turned up from above the 162.00 level as prices consolidate losses from the 165.20 high of last week
| 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 | 163.00/50 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Turned up from above the 162.00 level as prices consolidate losses from the 165.20 high of last week and unwind oversold intraday studies. Negative daily studies suggest consolidation giving way to renewed selling pressure later, lower will see room to the 162.00/161.58 area and 6th May low. Lower still, will see scope to strong support at the 161.00 congestion. Meanwhile, resistance is at the 163.00/163.50 congestion which is expected to cap and sustain losses from the 165.20, 13 May current year high.