Published: 2024-04-29T01:34:56.000Z
Chart EUR/JPY Update: Extending gains
Technical Analyst
1
Keeping pressure on the upside to extend sharp rally last week following break of the 165.00/165.35 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 174.75 | ** | Aug 1992 year high | S1 | 168.00 | * | congestion | |
R3 | 173.00 | * | 8 Sep 1992 high | S2 | 167.10 | * | 25 Apr high | |
R2 | 171.20 | * | 10 Aug 1992 high | S3 | 166.45 | * | 26 Apr low | |
R1 | 169.97 | ** | Jul 2008 year high | S4 | 165.95 | 25 Apr low |
Asterisk denotes strength of level
01:25 GMT - Keeping pressure on the upside to extend sharp rally last week following break of the 165.00/165.35 resistance. Bullish run-up see the 170.00 level now within reach but where reaction can be expected with daily and weekly studies now deep into overbought areas. Break here, if seen, will see scope for extension to resistance at 171.20 and 173.00 level. Meanwhile, support is raised to the 168.00 intraday congestion level which is expected to underpin. Would take break to turn focus lower and see room for deeper pullback to the 167.10 support then the 166.45/166.00 area.