Published: 2025-04-11T13:40:11.000Z
Chart EUR/JPY Update: Edging higher in choppy trade
Senior Technical Strategist
1
The anticipated break above 162.00 has reached resistance at 163.20
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | ** | congestion | S1 | 162.00 | * | congestion | |
| R3 | 165.00 | ** | break level | S2 | 161.00 | break level | ||
| R2 | 164.00 | ** | break level | S3 | 160.00 | * | congestion | |
| R1 | 163.20 | intraday lows | S4 | 159.00 | * | break level |
Asterisk denotes strength of level
14:20 BST - The anticipated break above 162.00 has reached resistance at 163.20, where overbought intraday studies are prompting a pullback to 162.50. Daily readings have turned positive and broader weekly charts are also rising, highlighting an improvement in price action and room for fresh gains in the coming sessions. A break above 163.20 will open up 164.00. Rising weekly charts point to potential for continuation towards 165.00. Meanwhile, support is raised to congestion around 162.00. A break beneath here, if seen, should give way to consolidation above 161.00.