Published: 2025-02-28T01:17:59.000Z
Chart EUR/JPY Update: Extending losses to fresh year low
Technical Analyst
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Consolidation at the 156.16/00 support has seen prices giving way to fresh selling pressure to extend the broader losses from October high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 159.70/00 | ** | 17 Jan low, congestion | S1 | 155.14 | * | Sep low | |
| R3 | 158.00 | * | congestion | S2 | 154.40 | ** | Aug 2024 year low | |
| R2 | 157.30 | 25 Feb high | S3 | 154.00 | * | congestion | ||
| R1 | 156.00/16 | * | congestion, Dec low | S4 | 153.12 | * | Dec 2023 low |
Asterisk denotes strength of level
01:10 GMT - Consolidation at the 156.16/00 support has seen prices giving way to fresh selling pressure to extend the broader losses from October high. Follow-through to break the 155.50 low return focus to the September low at 155.14 and the 2024 year low at 154.40. Reaction at these support can be expected. Below these will extend losses from the July 2024 year high to retrace strong gains from the 2020 low. Meanwhile, resistance is lowered to the 156.00/16 December low and congestion area and this extend to the 157.30 lower high of 25 February.