Published: 2025-05-16T01:10:18.000Z
Chart EUR/JPY Update: Extending losses from 165.00 resistance
Technical Analyst
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Prices remains under pressure with break of the 163.00 level extending rejection from the 165.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.00 | * | congestion | |
| R3 | 165.00/20 | ** | congestion, 13 May YTD high | S2 | 161.58 | * | 6 May low | |
| R2 | 164.00 | * | congestion | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 163.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:05 GMT - Prices remains under pressure with break of the 163.00 level extending rejection from the 165.00 resistance. Daily studies are unwinding overebought readings with weekly studies stretched as well and suggesting room for further losses to retrace the April/May rally. Lower will see room to strong support at 162.00/161.58, congestion and May low. Meanwhile, resistance is lowered to the 163.00 congestion which is expected to cap and sustain pullback from the 165.20, 13 May current year high.