Published: 2025-01-03T01:29:50.000Z
Chart EUR/JPY Update: Room for further losses
Technical Analyst
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Extending rejection from the 164.90 high of Monday
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 161.00 | * | congestion | |
| R3 | 164.90 | ** | 30 Dec high | S2 | 160.00 | ** | congestion | |
| R2 | 164.00 | * | congestion | S3 | 158.65 | * | 11 Dec low | |
| R1 | 162.45 | * | 31 Dec low | S4 | 158.00 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Extending rejection from the 164.90 high of Monday and follow-through below the 162.00 level see room to the 161.00 congestion then the 160.00 figure. Would expect reaction at the latter though scope is seen for break later to further retrace the December rally. Lower will open up room to 158.65 support then the 158.00 level. Meanwhile, resistance is lowered to the 162.00/162.45 area which is expected to cap. Only above here will see room for stronger bounce to the strong resistance at 163.80/164.00 congestion.