Published: 2025-03-24T01:47:59.000Z
Chart EUR/JPY Update: Consolidating test of 161.00
Technical Analyst
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Turned up from test of the 161.00 congestion to consolidate at the 162.00 as prices unwind the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 161.00 | * | congestion | |
| R3 | 164.54 | * | 7 Jan YTD high | S2 | 160.00 | ** | congestion | |
| R2 | 164.00/30 | ** | congestion, 2023 year high | S3 | 159.70 | * | Jan low | |
| R1 | 163.00 | * | congestion | S4 | 159.00 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Turned up from test of the 161.00 congestion to consolidate at the 162.00 as prices unwind the oversold intraday studies. Bounce see resistance starting at the 163.00 congestion ahead of the strong resistance at 164.00/30 which is expected to cap. Above here, if seen, will expose the December high at 164.90 to retest. Daily studies have turned down from overbought areas and suggest bounce to give way to renewed selling pressure later. Below the 161.00 level will see room to the strong support at the 160.00 congestion then the 159.70, January low.