Published: 2025-03-14T01:19:02.000Z
Chart EUR/JPY Update: Lower in consolidation from test of 162.00/60 resistance
Technical Analyst
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Extend rejection from probes above the 162.00 level as prices unwind the overbought intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.00/30 | ** | congestion, 2023 year high | S1 | 160.00 | * | congestion | |
| R3 | 162.60 | * | Oct trendline | S2 | 159.00 | ** | congestion | |
| R2 | 162.00 | * | congestion | S3 | 158.00 | * | congestion | |
| R1 | 161.00 | * | congestion | S4 | 156.16 | * | Dec low |
Asterisk denotes strength of level
01:10 GMT - Extend rejection from probes above the 162.00 level as prices unwind the overbought intraday and daily studies. Pullback see support at the 160.00/159.00 congestion area which now underpin. Would take break here to return focus to the downside to the 156.16/154.79, December/February lows. Meanwhile, resistance is lowered to the 161.00 congestion. Clearance here will expose the 162.00 congestion and the October trendline at 162.60 to retest. Break of these, if seen, will open up room for extension to the strong resistance at 164.00/30 area.