Chart EUR/JPY Update: Scope to retest 185.45
Consolidation within the 185.00/184.00 range has given way to break to expose the 185.45 high of 12 May to retest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.55/95 | ** | 30, 17 Apr YTD highs | S1 | 184.00 | * | congestion | |
| R3 | 186.87 | * | Jan high | S2 | 183.50 | * | congestion | |
| R2 | 186.00/23 | ** | congestion, 20 Apr low | S3 | 183.00 | * | congestion | |
| R1 | 185.45 | ** | 12 May high | S4 | 182.00 | ** | Nov high, congestion |
Asterisk denotes strength of level
01:00 GMT - Consolidation within the 185.00/184.00 range has given way to break to expose the 185.45 high of 12 May to retest. Break here will further extend gains from the 182.00 low to further retrace losses from the 187.95 April current year high and see room to strong resistance at 186.00/23 congestion area. However, the latter is expected to cap and give way to renewed selling presssure. Meanwhile, support remains at the 184.00 congestion. Would take break here to return focus to the downside for retest of the 183.50/183.00 congestion area. Below here will return focus to the downside for retest of the 182.00 low.