Published: 03/04/25 at 01:18 UTC
Chart EUR/JPY Update: Leaning lower in choppy trade
Technical Analyst
2
Leaning lower in choppy trade following rejection from retest of the 164.00/30 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 160.72 | * | 21 Mar low | |
| R3 | 164.00/30 | ** | congestion, 2023 year high | S2 | 160.00 | * | congestion | |
| R2 | 163.35 | * | 27 Mar high | S3 | 159.00 | * | congestion | |
| R1 | 162.00 | congestion | S4 | 158.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Leaning lower in choppy trade following rejection from retest of the 164.00/30 resistance with break of the 161.00/160.72 support not sustained. However, consolidation below the 162.00 level is expected to give way to fresh selling pressure later. The intraday and daily studies are tracking lower and suggest scope for break of the 160.00 level to open up room for extension to the 159.00/158.00 congestion area. Below this will return focus to the December/February lows. Meanwhile, resistance is at the 162.00 congestion and this should sustain the rejection from the 164.00/30 resistance.