Chartbook: Chart EUR/JPY: Still supported, but gains seen limited

Sharp rejection from 187.95 fresh multi-year high at the start of Q2 saw losses to 182.00 low before staging recovery to the 186.00/186.30 resistance.

Recent bullish bounce from the 180.80/182.00, February and May lows, keep pressure on the upside and highlights potential for retest of the 187.95 high. Just above here will expose the 188.20 May 1990 multi-year high to retest. Clearance here, if seen, will see scope for extension of the underlying bull trend to 195.30, 61.8% Fibonacci extension. 

Would take break of the 182.00/180.80 support area and 180.00 figure to ease the upside pressure and see deeper pullback to correct strong gains from the 155.00, February 2025 year low.  Lower will open up room for retracement of gains from the 155.00 January 2025 year low to strong support at 175.40/174.00, 2024 year high and July 2025 high. Below these will see deeper corrective pullback to strong support at the 170.00 figure and 2008 year high.