Published: 2025-05-07T01:24:37.000Z
Chart EUR/JPY Update: Consolidating at 162.00/161.70 support, lower later
Technical Analyst
-
Steadied at the 162.00/161.70 support as prices consolidate losses from the 164.63 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.63 | ** | 2 May YTD high | S1 | 162.00 | * | congestion | |
| R3 | 164.00 | * | congestion | S2 | 161.70 | * | 30 Apr low | |
| R2 | 163.75 | * | 25 Apr high | S3 | 161.00 | ** | 22 Apr low, congestion | |
| R1 | 163.00 | * | congestion | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:20 GMT - Steadied at the 162.00/161.70 support as prices consolidate losses from the 164.63 high and unwind oversold intraday studies. However, pressure remains on the downside and break here will turn focus to the strong support at 161.00 congestion. Below here will return focus to the downside and see room to the 160.00/159.00 congestion area. Lower still, will shift focus to the 158.15, April low. Meanwhile, resistance remains at the 163.00 and extends to 163.75, 25 April high. This area is expected to cap and sustain losses from the 164.63 high.