Published: 2025-04-04T13:47:46.000Z
Chart EUR/JPY Update: Drifting lower
Senior Technical Strategist
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Choppy trade is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.00 | ** | break level | S1 | 160.00 | * | congestion | |
| R3 | 163.20 | intraday lows | S2 | 159.00 | * | break level | ||
| R2 | 162.00 | * | congestion | S3 | 157.30 | * | 25 Feb (w) high | |
| R1 | 161.00 | break level | S4 | 156.00 | ** | congestion |
Asterisk denotes strength of level
14:30 BST - Choppy trade is giving way to a drift lower, with prices currently balanced above congestion support at 160.00. Intraday studies are bearish and daily readings are mixed/negative, highlighting room for a fresh break beneath here towards 159.00. A further close beneath here is needed to turn sentiment outright negative and extend mid-March losses towards the 157.30 weekly high of 25 February. Meanwhile, a close above resistance at 161.00 would help to stabilise sentiment and prompt consolidation beneath congestion resistance at 162.00.