Published: 2025-01-10T01:32:43.000Z
Chart EUR/JPY Update: Consolidating, room for lower
Technical Analyst
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Steadied at the 162.50 congestion as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.50 | * | congestion | |
| R3 | 164.90 | ** | Dec high | S2 | 162.00 | * | congestion | |
| R2 | 164.55 | * | 7 Jan high | S3 | 160.90 | * | 2 Jan low | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
01:25 GMT - Steadied at the 162.50 congestion as prices unwind oversold intraday studies following drop from the 164.55 high. However, pressure remains on the downside and lower will see room for deeper pullback to 162.00 level. Would take break here to open up room for retest of the 160.90 low of last week. Below this will see deeper pullback to retrace the gains from the 156.18 December low and see room to the 160.00 level. Meanwhile, resistance at the 164.00 level and 164.55 high now expected to cap. Only clearance here will revive upside focus and sets up scope for retest of the 164.90 high.