Published: 2025-05-28T01:16:13.000Z
Chart EUR/JPY Update: Higher to retest 164.00, room to extend
Technical Analyst
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Consolidation above the 162.00 level has given way to stronger rebound to retest 164.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | Oct high | S1 | 163.00 | * | congestion | |
| R3 | 166.00 | * | congestion | S2 | 162.00 | * | congestion | |
| R2 | 165.00/20 | ** | congestion, 13 May YTD high | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Consolidation above the 162.00 level has given way to stronger rebound to extend gains from the 161.00 support to retest the 164.00 resistance. Daily studies are tracking higher and suggest room for break here to expose the 165.00/20 highs to retest. However, the latter is expected to cap and lower high sought for pullback later. Meanwhile, support is raised to the 163.00/162.00 congestion area. Break of these will return focus to the downside for retest of critical support at the 161.00 congestion.