Published: 2025-05-27T13:14:27.000Z
Chart EUR/JPY Update: Higher in JPY-driven trade
Senior Technical Strategist
1
Cautious trade around congestion support at 162.00 has given way to a sharp JPY-driven bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | 31 Oct (m) high | S1 | 163.20 | break level | ||
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | break level | S3 | 161.00 | break level | ||
| R1 | 164.00 | ** | break level | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
14:00 BST - Cautious trade around congestion support at 162.00 has given way to a sharp JPY-driven bounce, with rising intraday studies prompting a break above 163.20. Focus is on resistance at 164.00. But overbought intraday studies and mixed daily readings should limit any break in renewed selling interest beneath 165.00. Meanwhile, support remains down to 162.00. A later break beneath here will add weight to sentiment and initially open up 161.00.