Published: 2025-05-09T01:22:16.000Z
Chart EUR/JPY Update: Bounce return focus to 164.00/164.63 resistance
Technical Analyst
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Consolidation above the 161.58 low has given way to break of 163.00 to retest the 164.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 163.00 | * | congestion | |
| R3 | 164.90/00 | ** | Dec high, congestion | S2 | 161.58 | * | 6 May low | |
| R2 | 164.63 | ** | 2 May YTD high | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 164.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Consolidation above the 161.58 low has given way to break of 163.00 to retest the 164.00 level. Daily studies have turned up from oversold readings and suggest scope for break here to open up room for retest of 164.63, 2nd May current year high. Gains beyond this, if seen, will open up room for extension to strong resistance at the 164.90/165.00, December high and gongestion area. Meanwhile, support at 163.00 level expected to underpin. Below this will expose the 162.00 level and 161.58 low to retest.