Published: 2025-06-06T13:26:26.000Z
Chart EUR/JPY Update: Room for higher in JPY-driven trade
Senior Technical Strategist
2
Anticipated gains have reached 164.90 in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 167.40 | ** | 61.8% ret of 2024 fall | S1 | 164.00 | ** | break level | |
| R3 | 166.68 | ** | 31 Oct (m) high | S2 | 163.00 | * | 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
14:15 BST - Anticipated gains have reached 164.90 in JPY-driven trade, where flat overbought intraday studies are prompting short-term reactions. Daily readings have turned higher and broader weekly charts are improving, highlighting room for still further strength in the coming sessions. A break above resistance at 165.00 will improve sentiment and extend February gains towards congestion around 166.00, where renewed selling interest could appear. Meanwhile, a close back below support at 164.00 will turn sentiment neutral and give way to fresh consolidation above 163.00.