Published: 2025-05-29T13:58:56.000Z
Chart EUR/JPY Update: Pressuring 164.00
Senior Technical Strategist
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The anticipated test of resistance at 164.00 is giving way to consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | 31 Oct (m) high | S1 | 163.20 | break level | ||
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | break level | S3 | 161.00 | break level | ||
| R1 | 164.00 | ** | break level | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
14:40 BST - The anticipated test of resistance at 164.00 is giving way to consolidation beneath here, as overbought intraday studies unwind, with prices currently balanced around 163.85. Daily readings continue to rise, suggesting potential for a retest above here. But mixed weekly charts are expected to limit scope in renewed selling interest towards 165.00. Meanwhile, support remains at 163.20. A close beneath here, if seen, will delay any immediate tests higher and give way to consolidation above congestion around 162.00.