Chart EUR/JPY Update: Higher to pressure 185.50/85
Edging higher to retest strong resistance at the 185.50/185.85 congestion and late-June high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 186.30 | ** | 16 Jun high | S1 | 185.00 | * | congestion | |
| R3 | 186.00 | * | congestion | S2 | 184.00 | * | congestion | |
| R2 | 185.85 | ** | 30 Jun high | S3 | 183.17/00 | ** | Jun low, congestion | |
| R1 | 185.50 | * | congestion | S4 | 182.00 | ** | congestion, May low |
Asterisk denotes strength of level
01:15 GMT - Edging higher to retest strong resistance at the 185.50/185.85 congestion and late-June high. Reaction here can be expected but a later break cannot be ruled out as daily studies continue to track higher. Clearance will extend the June gains and see room for extension to retest strong resistance at the 186.00/186.30 highs which is expected to cap. Meanwhile, support remains at the 185.00/184.00 congestion area. Would take break here to return focus to the downside for retest of the 183.17 June low and the 183.00 level. Below these will turn focus to the critical 182.00 and 180.80, May and February current year low.