Published: 2025-01-09T01:24:34.000Z
Chart EUR/JPY Update: Leaning lower from 164.55 high
Technical Analyst
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Leaning lower from the 164.55 high and consolidation below the 164.00 level see room for deeper pullback
| 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
01:15 GMT - Leaning lower from the 164.55 high and consolidation below the 164.00 level see room for deeper pullback to support at 162.50/162.00 area. Would take break here to turn focus lower and open up the 160.90 low of last week to retest. Break here will see deeper pullback to retrace the gains from the 156.18, December low. Daily studies have turned mixed from overbought areas and resistance at the 164.00 level and 164.55 high now expected to cap. Only clearance here will revive upside focus and sets up scope for retest of the 164.90 high.