Chart EUR/JPY Update: Choppy beneath current (multi-) year highs
Consolidation around support at the 180.00 break level has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 185.00 | * | figure | S1 | 180.00 | * | break level | |
| R3 | 183.00 | * | figure | S2 | 179.00 | * | break level | |
| R2 | 182.00 | * | 20 Nov YTD high, historic cong | S3 | 178.00 | break level | ||
| R1 | 181.00 | * | intraday break level | S4 | 176.00 | ** | break level |
Asterisk denotes strength of level
14:20 GMT - Consolidation around support at the 180.00 break level has given way to a bounce, as intraday studies turn higher once again, with prices currently pressuring resistance at 181.00. A fresh test above here cannot be ruled out. But negative daily readings should limit scope in renewed selling interest beneath critical resistance at the 182.00 current year high of 20 November and historic congestion. In the coming sessions, a break below 180.00 is looked for. But positive weekly charts should limit scope in fresh buying interest above 179.00. Meanwhile, a close above 182.00, not yet seen, will improve sentiment, and extend long-term gains towards 183.00.