Published: 2025-01-03T14:48:41.000Z
Chart EUR/JPY Update: Consolidating losses - daily studies under pressure
Senior Technical Strategist
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The break below the 161.55 Fibonacci retracement has bounced from just beneath 161.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | * | congestion | S1 | 161.55 | * | 38.2% ret of Dec rally | |
| R3 | 164.00 | * | congestion | S2 | 161.00 | break level | ||
| R2 | 163.00 | * | congestion | S3 | 160.50 | ** | 50% ret of Dec rally | |
| R1 | 162.00 | * | congestion | S4 | 160.00 | ** | break level |
Asterisk denotes strength of level
14:40 GMT - The break below the 161.55 Fibonacci retracement has bounced from just beneath 161.00, as oversold intraday studies unwind, with prices currently pressuring congestion resistance at 162.00. A break above here cannot be ruled out, but negative daily readings and mixed weekly charts are expected to limit scope in renewed selling interest beneath 163.00. Following cautious trade, fresh losses are looked for. A close below 161.55 will add weight to sentiment and extend losses towards the 160.50 retracement.