Chart EUR/JPY Update: Higher to pressure 185.00/45 resistance
Higher in consolidation from the 184.00 support and break above the 185.00 level expose the recent highs at 185.20/45 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 | 185.00/45 | ** | congestion, 12 May high | S4 | 182.00 | ** | Nov high, congestion |
Asterisk denotes strength of level
01:00 GMT - Higher in consolidation from the 184.00 support and break above the 185.00 level expose the recent highs at 185.20/45 to retest. Would take break here to open up room for extension to retest strong resistance at the 186.00/23 area which is expected to cap. Meanwhile, support remains at the 184.00 congestion. Would take break here to turn focus lower to retrace gains from the 182.00 low of 6 May to support at the 183.50/183.00 congestion area. Below here will return focus to the downside for retest of the 182.00 low and see scope to extend losses from the 187.95 April YTD high.