Published: 2025-03-28T00:59:01.000Z
Chart EUR/JPY Update: Bounce return focus to 164.00/30 resistance
Technical Analyst
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Consolidation at the 162.00 level has given way to break higher to extend bounce from the 160.72 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 162.00 | * | congestion | |
| R3 | 164.54 | * | 7 Jan YTD high | S2 | 161.00/72 | ** | congestion, 21 Mar low | |
| R2 | 164.00/30 | ** | congestion, 2023 year high | S3 | 160.00 | * | congestion | |
| R1 | 163.35 | * | 27 Mar high | S4 | 159.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Consolidation at the 162.00 level has given way to break higher to extend bounce from the 160.72 low of last week. The intraday and daily studies have turned positive and suggest scope to retest strong resistance at the 164.00/30 area. Clearance here will open up room for retest of the 7 Jan YTD high at 164.54 then the 164.90, December high. Meanwhile, support is raised to the 162.00/161.36 congestion and Thursday's low. This area should underpin and sustain bounce from 160.72, low of last week.