Published: 2025-01-28T09:55:47.000Z
Chart EUR/JPY Update: Leaning lower
Senior Technical Strategist
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Little change, as prices extend choppy trade above congestion support at 162.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.68 | ** | 31 Oct (m) high | S1 | 162.00 | * | congestion | |
| R3 | 165.00 | ** | break level | S2 | 161.00 | break level | ||
| R2 | 164.00 | * | congestion | S3 | 160.00 | * | congestion | |
| R1 | 163.00 | * | congestion | S4 | 159.50 | ** | 61.8% ret of Dec rally |
Asterisk denotes strength of level
09:40 GMT - Little change, as prices extend choppy trade above congestion support at 162.00. Daily readings are coming under pressure, highlighting potential for a test beneath here towards 161.00. However, mixed weekly charts are expected to limit any initial tests in renewed consolidation. A break, however, would open up stronger support within the 159.50 - 160.00 area, where more significant reactions are expected to appear. Meanwhile, resistance remains at congestion around 163.00 and should cap any immediate tests higher.