Published: 2025-04-16T13:54:53.000Z
Chart EUR/JPY Update: Choppy in range
Senior Technical Strategist
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Cautious trade has given way to a test lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | ** | break level | S1 | 161.00 | break level | ||
| R3 | 164.00 | ** | break level | S2 | 160.00 | * | congestion | |
| R2 | 163.20 | intraday lows | S3 | 159.00 | * | break level | ||
| R1 | 162.00 | * | congestion | S4 | 158.15 | ** | 7 Apr (w) low |
Asterisk denotes strength of level
14:45 BST - Cautious trade has given way to a test lower, with the break below 162.00 meeting support around 161.30, before settling into cautious trade beneath 162.00. Intraday studies are edging higher, suggesting room for a fresh test above here. But deteriorating daily readings and flattening overbought weekly stochastics are expected to limit scope in fresh consolidation beneath 163.20. Meanwhile, support is at 161.00. A break beneath here would open up congestion around 160.00, where the rising weekly Tension Indicator is expected to prompt consolidation.