Published: 2025-05-28T13:46:09.000Z
Chart EUR/JPY Update: Limited gains
Senior Technical Strategist
1
The test below support at 163.20 has given way to a sharp bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | 31 Oct (m) high | S1 | 163.20 | break level | ||
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | break level | S3 | 161.00 | break level | ||
| R1 | 164.00 | ** | break level | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
14:30 BST - The test below support at 163.20 has given way to a sharp bounce, with prices currently trading around 163.75. Daily stochastics are rising and the flat daily Tension Indicator is also ticking up, suggesting potential for a test of resistance at 164.00. But deteriorating weekly charts are expected to limit any break in renewed selling interest beneath 165.00. Meanwhile, any immediate tests back below 163.20 should give way to consolidation above 162.00.