Published: 2025-03-31T09:21:33.000Z
Chart EUR/JPY Update: Under pressure
Senior Technical Strategist
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Cautious trade beneath 163.20 has given way to a sharp break lower to 161.00
| 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 | 157.30 | * | 25 Feb (w) high |
Asterisk denotes strength of level
10:10 BST - Cautious trade beneath 163.20 has given way to a sharp break lower to 161.00, where oversold intraday studies are prompting a bounce to 161.50. Daily readings have turned down and rising weekly stochastics are flattening in overbought areas, suggesting room for still deeper losses in the coming sessions. A break below 161.00 will open up congestion around 160.00. But the positive weekly Tension Indicator is expected to limit any initial tests in fresh consolidation. Meanwhile, a close back above congestion resistance at 162.00, if seen, will help to stabilise price action and prompt consolidation beneath 163.20.