Published: 2025-01-08T01:47:27.000Z
Chart EUR/JPY Update: Limited above the 164.00 level
Technical Analyst
-
Failed to sustain break of the 164.00 resistance as prices settled back from the 164.55 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 162.50 | * | congestion | |
| R3 | 164.90 | ** | Dec high | S2 | 162.00 | * | congestion | |
| R2 | 164.55 | * | 7 Jan high | S3 | 160.90 | * | 2 Jan low | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
01:40 GMT - Failed to sustain break of the 164.00 resistance as prices settled back from the 164.55 high to unwind the overbought intraday studies. Positive daily studies keeps pressure on the upside and clear break of the 164.00/55 resistance will open up the 164.90 high to retest. Beyond this will return focus to the 166.00 congestion and the 166.69, October high. Meanwhile, support is raised to the 162.50/162.00 area which now underpin and sustain bounce from the 160.90 low. Break of the 162.00 level will return focus to the downside for retest of the 160.90 low then the 160.00 congestion.