Published: 2025-05-15T13:29:33.000Z
Chart EUR/JPY Update: Lower in JPY-driven trade
Senior Technical Strategist
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Prices continue to track lower in JPY-driven trade
| 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
14:15 BST - Prices continue to track lower in JPY-driven trade, with the break below 164.00 opening up support at 163.20. Daily readings are turning down and overbought weekly stochastics are flattening, suggesting a deterioration in sentiment and room for further losses. A break beneath here will target congestion around 162.00, where short-covering/consolidation is expected to appear. Meanwhile, a close back above 164.00, if seen, will help to stabilise price action and prompt consolidation beneath 165.00.