Published: 2025-07-03T01:10:44.000Z
Chart EUR/JPY Update: Consolidating below 169.85 high, scope for pullback
Technical Analyst
1
Extending consolidation below the 170.00 level with choppy trade tracing out a small wedge pattern and threatening pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 171.00 | * | congestion | S1 | 168.45 | * | 1 Jul low | |
| R3 | 170.45 | * | 76.4% 2024 fall | S2 | 168.00 | ** | congestion | |
| R2 | 170.00 | ** | congestion | S3 | 167.60 | * | 17 Jun high | |
| R1 | 169.85 | ** | 30 Jun YTD high | S4 | 166.68 | ** | Oct high |
Asterisk denotes strength of level
01:10 GMT - Extending consolidation below the 170.00 level with choppy trade tracing out a small wedge pattern and threatening pullback to retrace recent strong gains from the 161.00, May low. Daily studies are stretched as well and bearish divergence caution corrective pullback to support at 168.45 and 168.00 level. Break of these will open up room to support at the 167.60 and 166.68 previous highs. Meanwhile, break above the 169.85 high and the 170.00 level, if seen, will further extend the February gains to target the 170.45 Fibonacci level and 171.00 congestion.