Published: 2025-05-29T01:26:53.000Z
Chart EUR/JPY Update: Pressuring 164.00, scope for break
Technical Analyst
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Consolidating test of the 164.00 congestion but pressure remains on the upside
| 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
01:20 GMT - Consolidating test of the 164.00 congestion but pressure remains on the upside. Daily studies remains positive and suggest scope for break here to expose strong resistance at 165.00/20 highs to retest. The latter is expected to cap and lower high sought for pullback later. Meanwhile, support is raised to the 163.00 congestion. Below here will open up room for retest of 162.00 congestion then the critical support at the 161.00 level. Break here will return focus to the downside and see pullback to 160.00 then 158.15, April low.