Published: 2025-01-15T01:37:23.000Z
Chart EUR/JPY Update: Corrective bounce from 160.00 low
Technical Analyst
-
Rebound from the 160.00 support has seen gains through resistance at the 162.00 congestion to approach the 163.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 162.00 | * | congestion | |
| R3 | 164.90 | * | congestion | S2 | 161.00 | * | congestion | |
| R2 | 164.00 | * | congestion | S3 | 160.00 | ** | congestion | |
| R1 | 163.00/20 | * | congestion | S4 | 158.65 | 11 Dec low |
Asterisk denotes strength of level
01:30 GMT - Rebound from the 160.00 support has seen gains through resistance at the 162.00 congestion to approach the 163.00 level. Gains are seen corrective as prices unwind the oversold intraday studies and nearby see resistance at the 163.00/20 congestion area. Lower high sought to pressure the downside later and break of the 161.00 level will expose the 160.00 level to retest. Break here will see room for deeper pullback to retrace rally from the December low to the 158.65 support then the 158.00 congestion. Below the latter will see room to support at the August trendline at 156.75.