Published: 2025-05-09T13:38:20.000Z
Chart EUR/JPY Update: Choppy in range - studies rising
Senior Technical Strategist
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Anticipated minor gains have been pushed back from just below resistance at 164.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 163.20 | break level | ||
| R3 | 165.00 | * | break level | S2 | 162.00 | * | congestion | |
| R2 | 164.63 | ** | 2 May (w) high | S3 | 161.00 | break level | ||
| R1 | 164.00 | ** | break level | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
14:30 BST - Anticipated minor gains have been pushed back from just below resistance at 164.00, as intraday studies turn down, with prices currently trading around 163.40. A retest of support at 163.20 cannot be ruled out. But rising daily readings and positive weekly charts are expected to limit any break in renewed buying interest/consolidation above congestion support at 162.00. Meanwhile, resistance remains at 164.00. But a close above the 164.63 weekly high of 2 May is needed to turn sentiment positive and extend February gains initially towards 165.00.