Published: 2025-05-15T01:25:33.000Z
Chart EUR/JPY Update: Extend rejection from 165.00 resistance
Technical Analyst
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Extending rejection from the 165.00 resistance through the 164.00 level as prices unwind the overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | Dec high | S1 | 163.00 | * | congestion | |
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00/20 | ** | congestion, 13 May YTD high | S3 | 161.58 | * | 6 May low | |
| R1 | 164.00 | * | congestion | S4 | 161.00 | ** | 22 Apr low, congestion |
Asterisk denotes strength of level
01:15 GMT - Extending rejection from the 165.00 resistance through the 164.00 level as prices unwind the overbought daily studies. Weekly studies are stretched as well and suggest room to support at 163.00 congestion. Break of the latter will open up room for deeper pullback to retrace the April/May rally to strong support at 162.00/161.58, congestion and May low. Lower still, will see room to 161.00. Meanwhile, resistance is lowered to the 164.00/18 congestion which is expected to cap and sustain pullback from the 165.20, YTD high.