Published: 2025-04-10T13:26:38.000Z
Chart EUR/JPY Update: Choppy in range
Senior Technical Strategist
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The test below congestion support at 160.00 has bounced smartly from 159.45~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | ** | break level | S1 | 161.00 | break level | ||
| R3 | 164.00 | ** | break level | S2 | 160.00 | * | congestion | |
| R2 | 163.20 | intraday lows | S3 | 159.00 | * | break level | ||
| R1 | 162.00 | * | congestion | S4 | 158.15 | ** | 7 Apr (w) low |
Asterisk denotes strength of level
14:20 BST - The test below congestion support at 160.00 has bounced smartly from 159.45~, with prices reaching congestion resistance at 162.00 before settling into consolidation beneath here. Intraday studies are rising and oversold daily stochastics are also unwinding, suggesting potential for a test above here. But the bearish daily Tension Indicator and mixed weekly charts are expected to limit initial scope in renewed consolidation beneath resistance at the 162.20 intraday lows. Meanwhile, support is at 161.00 and extends to congestion around 160.00. This area should underpin any immediate setbacks.