Published: 2024-12-12T15:04:46.000Z
Chart EUR/JPY Update: Gains to remain limited
Senior Technical Strategist
-
Little change, as prices extend choppy trade above congestion resistance at 160.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 163.00 | * | congestion | S1 | 158.00 | * | congestion | |
| R3 | 162.00 | * | congestion | S2 | 157.00 | * | congestion | |
| R2 | 161.00 | break level | S3 | 156.00/15~ | * | congestion; 3 Dec (w) low | ||
| R1 | 160.00 | * | congestion | S4 | 155.15 | ** | 16 Sep (m) low |
Asterisk denotes strength of level
14:55 GMT - Little change, as prices extend choppy trade above congestion resistance at 160.00. Rising daily studies highlight room for a fresh test above here. But negative weekly charts should limit scope in renewed selling interest towards the 161.00 break level. A close above here, however, will improve sentiment and extend corrective gains towards congestion around 162.00. Meanwhile, support is down to congestion around 158.00. This should underpin any immediate setbacks.