Published: 2025-05-14T13:32:19.000Z
Chart EUR/JPY Update: Leaning lower in JPY-driven trade
Senior Technical Strategist
1
Choppy trade beneath resistance at 165.00 has given way to a pullback in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 167.50 | ** | 61.8% ret of Jul-Aug 2024 fall | S1 | 164.00 | ** | break level | |
| R3 | 166.68 | ** | 31 Oct (m) high | S2 | 163.20 | break level | ||
| R2 | 166.00 | * | congestion | S3 | 162.00 | * | congestion | |
| R1 | 165.00 | * | break level | S4 | 161.00 | break level |
Asterisk denotes strength of level
14:25 BST - Choppy trade beneath resistance at 165.00 has given way to a pullback in JPY-driven trade, with prices currently pressuring support at 164.00. Intraday studies are under pressure, highlighting room for a break beneath here. But rising daily readings and positive weekly charts are expected to limit scope in renewed buying interest towards support at 163.20. Meanwhile, resistance remains at 165.00. A close above here is needed to turn sentiment positive and extend February gains towards congestion resistance at 166.00.