Published: 2025-08-01T13:30:23.000Z
Chart EUR/JPY Update: Consolidating - studies under pressure
Senior Technical Strategist
1
Cautious trade around resistance at 172.00 is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | congestion | S1 | 171.00 | ** | break level | ||
| R3 | 173.90/00 | ** | 28 Jul YTD high; cong | S2 | 170.00 | congestion | ||
| R2 | 173.00 | * | congestion | S3 | 169.00 | * | congestion | |
| R1 | 172.00 | * | break level | S4 | 168.00 | ** | congestion |
Asterisk denotes strength of level
14:25 BST - Cautious trade around resistance at 172.00 is giving way to a pullback, as overbought intraday studies unwind, with prices currently trading around 171.50. Focus is on support at 171.00. But flattening oversold daily stochastics are expected to limit any initial tests in consolidation, before negative daily charts are deteriorating weekly readings prompt a break. A close below congestion support is needed to turn sentiment negative once again and extend July losses initially to 169.00. Meanwhile, any immediate tests above 172.00 should be limited in consolidation beneath congestion around 173.00.