Published: 2025-05-21T00:52:05.000Z
Chart EUR/JPY Update: Range-bound in consolidation
Technical Analyst
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Extend consolidation above Monday's 162.14 low
| 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
00:45 GMT - Little change, as prices extend consolidation above Monday's 162.14 low. Prices are unwinding oversold intraday studies with stretched daily studies suggesting scope for bounce to consolidate losses from the 165.20 high of last week. Resistance is at the 163.00/50 area and this extend to the 164.00 congestion. Consolidation here is expected to give way to renewed selling pressure later and lower will see room to support at the 162.00/161.58 area. Below this will see further extension to the strong support at the 161.00/160.00 congestion.