Published: 2025-05-06T13:25:24.000Z
Chart EUR/JPY Update: Under pressure
Senior Technical Strategist
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Steady selling interest has reached 161.60
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.63 | ** | 2 May (w) high | S1 | 161.00 | break level | ||
| R3 | 164.00 | ** | break level | S2 | 160.00 | ** | congestion | |
| R2 | 163.20 | break level | S3 | 158.16 | ** | 7 Apr (m) low | ||
| R1 | 162.00 | * | congestion | S4 | 157.50 | congestion |
Asterisk denotes strength of level
14:10 BST - Steady selling interest has reached 161.60, where oversold intraday studies are prompting short-term reactions. Daily stochastics have turned down and the daily Tension Indicator is also coming under pressure, highlighting a deterioration in sentiment and room for further losses in the coming sessions. Focus is on support at 161.00. But mixed weekly charts are expected to limit any initial break in fresh consolidation above congestion support at 160.00. Meanwhile, a close above congestion resistance at 162.00, if seen, will turn sentiment neutral and give way to consolidation beneath 163.20.