Chart EUR/JPY Update: Sharply lower in JPY-driven trade
Choppy trade around 181.00 has given way to a sharp break lower in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 185.00 | ** | break level | S1 | 180.00 | ** | congestion, 23.6% ret | |
| R3 | 184.00 | * | congestion | S2 | 179.35~ | ** | 3 Aug (m) low | |
| R2 | 182.00 | * | break level | S3 | 179.00 | * | Oct-Nov 2025 break level | |
| R1 | 181.00 | * | congestion | S4 | 178.00 | * | congestion |
Asterisk denotes strength of level
12:05 BST - Choppy trade around 181.00 has given way to a sharp break lower in JPY-driven trade, with prices posting a fresh 2026 year low just beneath the 179.35~ monthly low of 3 August, before bouncing into fresh consolidation just beneath 180.00. Daily stochastics are turning flat in oversold areas, suggesting room for consolidation around here. But the bearish daily Tension Indicator and negative weekly and monthly charts point to room for still deeper (JPY-driven?) losses in the coming sessions. A close below 179.35~ will add weight to sentiment and extend losses from the 187.95 current year high of 17 April towards 179.00. Beneath here is 178.00.
Meanwhile, resistance is up to congestion around 181.00. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 182.00.