Published: 13/03/25 at 02:41 UTC
Chart EUR/JPY Update: Limited tests lower
Senior Technical Strategist
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The pullback from 162.00 is extending
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | ** | break level | S1 | 160.00 | * | congestion | |
| R3 | 164.00 | ** | break level | S2 | 159.00 | * | break level | |
| R2 | 162.00 | * | congestion | S3 | 158.00 | * | break level | |
| R1 | 161.00 | break level | S4 | 157.00 | ** | break level |
Asterisk denotes strength of level
14:25 GMT - The pullback from 162.00 is extending, as intraday studies track lower, with prices currently trading around 160.65. Focus is on congestion support at 160.00, but rising daily readings and improving weekly charts are expected to limit any initial tests in consolidation. A break beneath here, if seen, will open up 159.00, where fresh buying interest is looked for. Meanwhile, resistance is lowered to 161.00. But a close above congestion resistance at 162.00 is needed to improve price action and extend February gains towards 164.00.