Published: 2025-05-27T01:08:20.000Z
Chart EUR/JPY Update: Consolidating above 162.00
Technical Analyst
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Extending consolidation above the 162.00 level following bounce from above the 161.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.00 | * | congestion | |
| R3 | 165.00/20 | ** | congestion, 13 May YTD high | S2 | 161.00 | ** | 22 Apr low, congestion | |
| R2 | 164.00 | * | congestion | S3 | 160.00 | * | congestion | |
| R1 | 163.00/50 | * | congestion | S4 | 159.43 | 9 Apr low |
Asterisk denotes strength of level
01:05 GMT - Extending consolidation above the 162.00 level following bounce from above the 161.00 support. Daily studies are unwinding the oversold readings and suggest room to further pressure the 163.00/163.50 resistance, which is expected to cap. Clearance, if seen, will open up room for stronger gains to 164.00 congestion. Corrective gains are expected to give way to renewed selling pressure later and break of support at 161.00 congestion will turn extend losses from the 165.20 high and shift focus to the 160.00 support. Below this will return focus to 158.15, April low.