Published: 2025-05-30T01:35:11.000Z
Chart EUR/JPY Update: Consolidating test of 164.00
Technical Analyst
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No follow-through on break above 164.00 as prices consolidate strong gains from support at 161.00 low of last week
| 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
01:30 GMT - No follow-through on break above 164.00 as prices consolidate strong gains from support at 161.00 low of last week. Daily studies are stretched and see prices unwinding overbought readings, suggesting scope for pullback to the 163.00/162.00 congestion area. Would take break of these to return focus to the downside for retest of 161.00 support. Meanwhile, break above the 164.00 resistance, if seen, will open up room for retest of the 165.00/20, resistance and 13 May YTD high.