Published: 2025-04-08T01:39:25.000Z
Chart EUR/JPY Update: Sharp corrective bounce from 158.15 low
Technical Analyst
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Bounce from the 158.15 low has seen sharp rally to reach resistance at the 162.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.54 | ** | 7 Jan YTD high | S1 | 160.00 | * | congestion | |
| R3 | 164.00/18 | ** | congestion, 18 Mar high | S2 | 159.00 | * | congestion | |
| R2 | 163.00/35 | * | congestion, 27 Mar high | S3 | 158.15/00 | * | 7 Apr low, congestion | |
| R1 | 162.00 | * | congestion | S4 | 156.16 | * | Dec low |
Asterisk denotes strength of level
01:30 GMT - Bounce from the 158.15 low has seen sharp rally to reach resistance at the 162.00 congestion as prices unwind the oversold intraday studies. The daily readings have turned positive and suggest scope for break here to open up room to the 163.00/35 resistance. Beyond this will expose the 164.00/18 congestion and March high to retest. However, the latter is expected to cap and give way to renewed selling pressure later. Meanwhile, support is raised to the 160.00 congestion. Would take break here to open up room for retest of the 159.00/158.00 congestion.