Published: 2025-03-26T01:36:36.000Z
Chart EUR/JPY Update: Consolidating, room for deeper pullback
Technical Analyst
-
Consolidating at the 162.00 level following rejection at the 163.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 161.00/72 | * | congestion, 21 Mar low | |
| R3 | 164.54 | * | 7 Jan YTD high | S2 | 160.00 | * | congestion | |
| R2 | 164.00/30 | ** | congestion, 2023 year high | S3 | 159.70 | * | Jan low | |
| R1 | 163.00 | * | congestion | S4 | 159.00 | * | congestion |
Asterisk denotes strength of level
01:25 GMT - Consolidating at the 162.00 level following rejection at the 163.00 congestion. The resulting flag pattern suggest bounce from the 160.72 low giving way to fresh selling pressure later and where break will extend pullback from the 164.00/30 resistance to retrace rally from the 154.79, late-February low. Lower will see room to the 160.00/159.70 congestion and January low then the 159.00 congestion. Meanwhile, resistance at the 163.00 level is expected to cap and sustain losses from the 164.00 level.