Published: 2025-03-06T01:38:29.000Z
Chart EUR/JPY Update: Pressuring 161.00/18 February high
Technical Analyst
-
Sharply higher to retest strong resistance at the 161.00/18, February high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 162.70 | ** | Oct trendline | S1 | 160.00 | * | congestion | |
| R3 | 162.00 | * | congestion | S2 | 159.20 | * | 4 Mar high | |
| R2 | 161.50 | * | congestion | S3 | 158.50 | * | congestion | |
| R1 | 161.00/18 | ** | congestion, Feb high | S4 | 158.00 | * | congestion |
Asterisk denotes strength of level
01:30 GMT - Sharply higher following break above the 158.00 congestion and follow-through above the 160.00 level see prices back to retest strong resistance at the 161.00/18, February high. Consolidation here see prices unwinding the stretched intraday studies but daily studies remains positive and suggest scope for break later. Clearance, if seen, will open up room to the 161.50/162.00 congestion then the trendline from the October high at 162.70. Meanwhile, support is raised to the 160.00 congestion which extend to the 159.20/00 area, now expected to underpin.