Published: 2024-11-07T01:22:14.000Z
Chart EUR/JPY Update: Extend consolidation above 165.00
Technical Analyst
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Little change, as prices extend consolidation above the 165.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 168.00 | ** | congestion | S1 | 165.00 | * | congestion | |
| R3 | 167.40 | * | 61.8% Jul/Aug fall | S2 | 164.00 | ** | congestion | |
| R2 | 166.69 | * | 31 Oct high | S3 | 163.60 | * | 10 Oct high | |
| R1 | 166.00 | * | congestion | S4 | 162.00 | ** | congestion |
Asterisk denotes strength of level
01:20 GMT - Little change, as prices extend consolidation above the 165.00 level. However, pullback from the 166.69 high threatens break here to open up deeper pullback to retrace gains from the 155.15, September low. Lower will turn focus to the strong support at the 164.00/163.60 area. Below this, if seen, will see scope for deeper pullback to the 162.00 support. Meanwhile, resistance is lowered to the 166.00 level and this is expected to cap and sustain losses from the 166.69 high. Above the latter will see room for extension to the 167.40, 61.8% Fibonacci retracement, then the 168.00 level.