Published: 2025-05-30T13:10:41.000Z
Chart EUR/JPY Update: Room for a minor test lower
Senior Technical Strategist
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Consolidation beneath resistance at 164.00 is giving way to a pullback
| 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
14:05 BST - Consolidation beneath resistance at 164.00 is giving way to a pullback, as intraday studies turn down, with prices currently pressuring support at 163.20. Rising daily readings are also flattening, suggesting room for a break towards congestion support at 162.00. But mixed weekly charts should limit any initial tests in renewed consolidation. Meanwhile, resistance remains at 164.00. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 165.00.