Published: 2025-01-22T01:17:12.000Z
Chart EUR/JPY Update: Range-bound in consolidation
Technical Analyst
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Limited on break above the 162.00 level as prices settled into consolidation from the 162.32 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 160.90 | * | 2 Jan low | |
| R3 | 164.00 | * | congestion | S2 | 160.00 | ** | congestion | |
| R2 | 163.00 | * | congestion | S3 | 158.65 | * | 11 Dec low | |
| R1 | 162.32 | * | 20 Jan high | S4 | 158.00 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Limited on break above the 162.00 level as prices settled into consolidation from the 162.32 high. The daily studies remain support but further gains likely limited with the higher resistance at the 162.90/163.00 congestion area expected to cap. Corrective bounce expected to give way to fresh selling pressure later to retest the 160.90 support then the 160.00 congestion. Break of the latter will extend pullback from the 164.90 December high and see room to the 158.65 support then the 158.00 congestion. Lower still will see scope to the August trendline at 157.20.