Published: 2025-05-02T09:27:41.000Z
Chart EUR/JPY Update: Consolidating sharp gains
Senior Technical Strategist
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Anticipated gains have reached 164.60~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 168.00 | * | break level | S1 | 164.00 | ** | break level | |
| R3 | 166.68 | ** | 31 Oct (m) high | S2 | 163.20 | break level | ||
| R2 | 166.00 | ** | congestion | S3 | 162.00 | * | congestion | |
| R1 | 165.00 | ** | break level | S4 | 161.00 | break level |
Asterisk denotes strength of level
10:05 BST - Anticipated gains have reached 164.60~, where unwinding overbought intraday studies are prompting a pullback to support at 164.00. A break beneath here cannot be ruled out. But rising daily readings and improving weekly charts are expected to limit scope in renewed buying interest above 163.20. Meanwhile, resistance is at 165.00 and extends to congestion around 166.00. Flattening overbought weekly stochastics are expected to limit any tests of this broad range in fresh consolidation.