Published: 2025-09-03T01:36:37.000Z
Chart EUR/JPY Update: Focus on the 173.90, July high
Technical Analyst
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No follow-through on break of the 173.00 level but pressure remains on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.40 | ** | Jul 2024 multi-year high | S1 | 172.00 | * | congestion | |
| R3 | 174.50 | * | congestion | S2 | 171.00 | ** | 14 Aug low, congestion | |
| R2 | 173.90 | ** | 28 Jul YTD high | S3 | 170.00 | ** | congestion | |
| R1 | 173.00 | ** | congestion | S4 | 168.45 | * | Jul low |
Asterisk denotes strength of level
01:25 GMT - No follow-through on break of the 173.00 level but pressure remains on the upside to extend bounce from the 171.00 support. Positive daily studies suggest scope for break to open up the 173.90 July current year high to retest. Break here will further extend the bullish gains from the August 2024 and February double bottom and turn focus to the 175.40, July 2024 year high. Meanwhile, support is raised to the 172.00 level which is expected to underpin and sustain bounce from the 171.00 level.