Published: 2025-01-02T02:16:38.000Z
Chart EUR/JPY Update: Consolidating test of 162.48 support
Technical Analyst
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Pullback from the 164.90 high has seen losses checked at the 162.48 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.69 | ** | Oct high | S1 | 162.48 | * | 17 Dec high | |
| R3 | 166.00/10 | * | congestion, 6 Nov high | S2 | 162.00 | * | congestion | |
| R2 | 165.00 | * | congestion | S3 | 161.00 | * | congestion | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | ** | congestion |
Asterisk denotes strength of level
02:10 GMT - Pullback from the 164.90 high has seen losses checked at the 162.48 support as prices unwind oversold intraday studies. However, daily chart are unwinding overbought readings and suggest room for deeper pullback to the 162.00 congestion. Failure to hold the latter will open up deeper pullback to the 161.55/161.00 area. Meanwhile, resistance is lowered to the 164.00 congestion now expected to cap. Only above here will revive upside focus and see room for retest of the 164.90 high and the 165.00 congestion.