Published: 2025-04-14T01:17:54.000Z
Chart EUR/JPY Update: Consolidating test of 163.00 level
Technical Analyst
1
Consolidating test of the 163.00 level as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 161.00/70 | * | congestion, 21 Mar low | |
| R3 | 164.90 | ** | Dec high | S2 | 160.00 | * | congestion | |
| R2 | 164.00/18 | ** | congestion, 18 Mar high | S3 | 159.00 | * | congestion | |
| R1 | 163.00/35 | * | congestion, 27 Mar high | S4 | 158.15/00 | ** | 7 Apr low, congestion |
Asterisk denotes strength of level
01:15 GMT - Consolidating test of the 163.00 level as prices unwind overbought intraday studies but further gains not ruled out. Clearing the 163.00/35 resistance will open up room for retest of the 164.00/18, March highs. However, choppy trade is expected to give way to selling pressure later with support raised to the 161.00/160.70 area. Break here will open up room for retest of the 160.00 congestion. Below the latter will return focus to the downside for retest of the 159.00 level then the 158.15/158.00, 7 April low and congestion.