Published: 2025-01-13T14:11:41.000Z
Chart EUR/JPY Update: Under pressure
Senior Technical Strategist
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Anticipated losses have reached support at the 160.50 Fibonacci retracement and congestion around 160.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | * | congestion | S1 | 160.50 | ** | 50% ret of Dec rally | |
| R3 | 164.00 | * | congestion | S2 | 160.00 | * | congestion | |
| R2 | 163.00 | * | congestion | S3 | 159.50 | ** | 61.8% ret of Dec rally | |
| R1 | 162.00 | * | congestion | S4 | 159.00 | * | congestion |
Asterisk denotes strength of level
14:05 GMT - Anticipated losses have reached support at the 160.50 Fibonacci retracement and congestion around 160.00, where flattening oversold intraday studies are prompting consolidation. Daily readings continue to track lower and broader weekly charts are also coming under pressure, highlighting potential for still further losses in the coming sessions. A close below 160.00 will add weight to already bearish price action and extend late-December losses towards the 159.50 retracement. Meanwhile, resistance is up to congestion around 162.00 and should cap any immediate tests higher.