Published: 2025-08-05T01:20:31.000Z
Chart EUR/JPY Update: Weighing on 170.00/169.72 support, break in focus
Technical Analyst
1
Under pressure as prices turned down from the 172.00 bounce high to retest support at the 170.00/169.72 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.50 | * | congestion | S1 | 170.00 | * | congestion | |
| R3 | 173.90/00 | ** | 28 Jul YTD high, congestion | S2 | 169.72 | * | 31 Jul low | |
| R2 | 173.00 | * | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.00 | * | congestion | S4 | 168.00 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Under pressure as prices turned down from the 172.00 bounce high to retest support at the 170.00/169.72 area. Negative daily and weekly studies suggest scope for break here to further retrace strong rally from the May low. Break will see extension to support at 168.45 and 168.00. Lower still, will see room to 167.50, 50% Fibonacci level. Meanwhile, resistance is lowered to the 171.00/172.00 congestion area which is expected to cap corrective bounce and sustain losses from the 173.90 high.