Published: 2025-07-08T13:49:29.000Z
Chart EUR/JPY Update: Broad August 2024 gains posting fresh year highs
Senior Technical Strategist
1
Anticipated gains have posted a fresh tear high around congestion resistance at 172.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | * | figure | S1 | 171.00 | break level | ||
| R3 | 174.00 | congestion | S2 | 170.00 | congestion | |||
| R2 | 173.00 | * | congestion | S3 | 169.00 | * | congestion | |
| R1 | 172.00 | congestion | S4 | 168.00 | ** | break level |
Asterisk denotes strength of level
14:40 BST - Anticipated gains have posted a fresh tear high around congestion resistance at 172.00, where overbought intraday studies are prompting short-term reactions. Daily readings continue to rise and broader weekly charts are positive, highlighting room for a later break and continuation of broad August 2024 gains towards further congestion around 173.00. Meanwhile, support is raised to 171.00. A close beneath here will turn sentiment neutral. But a further close below 170.00, if seen, would add weight to sentiment and prompt a deeper pullback, initially to congestion around 169.00.