Published: 2025-08-20T01:17:44.000Z
Chart EUR/JPY Update: Under pressure
Technical Analyst
1
Consolidation within the 172.00/173.00 area has given way to selling pressure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.50 | * | congestion | S1 | 171.30/00 | ** | congestion | |
| R3 | 173.90/00 | ** | 28 Jul YTD high, congestion | S2 | 170.00 | ** | congestion | |
| R2 | 173.00 | ** | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.70 | * | 19 Aug high | S4 | 168.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Consolidation within the 172.00/173.00 area has given way to selling pressure and return below the 172.00 level opens up the 171.30/00 support area to retest. Negative daily studies highlighting risk for break here to extend losses to retest the 170.00 support. Break here will see deeper pullback to retrace the February/July rally. Meanwhile, resistance is lowered to the 172.70/173.00 area which should cap and limit corrective bounce. Clearance needed to expose the 173.90 current year high to retest.