Published: 2025-08-06T01:01:28.000Z
Chart EUR/JPY Update: Consolidating at 170.00, scope for break later
Technical Analyst
1
Retest of support at the 170.00/169.72 area has given way to bounce as prices unwind oversold intraday studies
| 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
01:00 GMT - Retest of support at the 170.00/169.72 area has given way to bounce as prices unwind oversold intraday studies. However, negative daily and weekly studies suggest consolidation giving way to selling pressure to further retrace strong rally from the May low. Lower will see extension to support at 168.45 and 168.00. Below this will see room to 167.50, 50% Fibonacci level. Meanwhile, resistance at the 171.00/172.00 congestion is expected to limit corrective bounce and sustain losses from the 173.90 high.