Published: 2025-05-08T01:22:29.000Z
Chart EUR/JPY Update: Range-bound in consolidation
Technical Analyst
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Turned up in range from the 161.58 low as prices consolidate losses from the 164.63 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.63 | ** | 2 May YTD high | S1 | 162.00 | * | congestion | |
| R3 | 164.00 | * | congestion | S2 | 161.58 | * | 6 May low | |
| R2 | 163.75 | * | 25 Apr high | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 163.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:20 GMT - Turned up in range from the 161.58 low as prices consolidate losses from the 164.63 high. Prices are unwinding oversold intraday studies but this is expected to give way to renewed selling pressure later. Lower will see room to the strong support at 161.00 congestion. Break of the latter will return focus to the downside and see room to the 160.00/159.00 congestion area. Lower still, will shift focus to the 158.15, April low. Meanwhile, resistance remains at the 163.00 and extends to 163.75, 25 April high. These are expected to cap and sustain losses from the 164.63 high.