Chart EUR/JPY Update: Choppy within 186.00/185.00 area
Little change, as prices extend choppy trade within the 186.00/185.00 range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.47 | ** | Jul high | S1 | 185.00 | * | congestion | |
| R3 | 187.00 | * | congestion | S2 | 184.00 | * | congestion | |
| R2 | 186.30 | ** | Jun high | S3 | 183.15/00 | ** | Jun low, congestion | |
| R1 | 186.00 | * | congestion | S4 | 182.00 | * | congestion, May low |
Asterisk denotes strength of level
01:15 GMT - Little change, as prices extend choppy trade within the 186.00/185.00 range area. Daily studies have turned mixed and suggest further ranging action here though the resulting flag pattern below the 186.00 level suggest scope for break here to extend strong gains from the August low to strong resistance at 186.30 which is expected to cap. Break here, however, will open up room for retest of 187.00 congestion and the 187.47, July high. Meanwhile, support remains at the 185.00 congestion. Below here will turn focus to the downside to correct strong gains from the 179.35 low to strong support at 184.00 congestion and 183.15, June low.