Published: 2025-01-13T01:23:03.000Z
Chart EUR/JPY Update: Under pressure, 160.90 support within reach
Technical Analyst
2
Losses through the 162.00 level extend drop from the 164.55 high to reach 161.21 low on Friday
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.90 | ** | Dec high | S1 | 160.90 | * | 2 Jan low | |
| R3 | 164.55 | * | 7 Jan high | S2 | 160.00 | ** | congestion | |
| R2 | 164.00 | * | congestion | S3 | 158.65 | 11 Dec low | ||
| R1 | 162.50 | * | congestion | S4 | 158.00 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Losses through the 162.00 level extend drop from the 164.55 high to reach 161.21 low on Friday. Nearby see scope for retest of the 160.90 support and below this will extend the broader losses from the 164.90, December high. Below the latter will see deeper pullback to retrace rally from the December low at 156.18 and see room to the 160.00 level. Meanwhile, resistance is lowered to the 162.00/162.50 congestion area which is expected to cap. Only clearance here will see room for stronger bounce to the 164.00 level.