Chart EUR/JPY Update: Choppy in consolidation
Choppy trade see prices back to retest the 180.80 resistance following bounce from support at the 179.50/35 congestion and August low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.70 | * | 50% Jul/Sep fall | S1 | 180.00 | * | congestion | |
| R3 | 182.00 | ** | May low | S2 | 179.50/35 | * | congestion, Aug low | |
| R2 | 181.55 | * | 38.2% Jul/Sep fall | S3 | 179.00 | * | congestion | |
| R1 | 180.80 | * | Feb low | S4 | 177.82 | ** | 14 Sep YTD low |
Asterisk denotes strength of level
01:10 GMT - Choppy trade see prices back to retest the 180.80 resistance following bounce from support at the 179.50/35 congestion and August low. Positive daily studies keep pressure on the upside and suggest scope for break here to open up the 181.55 38.2% Fibonacci high to retest. Clearance will see room for stronger gains to retrace the July/September losses to the 182.00 resistance. Meanwhile, support starts at 180.00 and extend to the 179.50/35 area. Below here will return focus to the downside for retest of the and 178.00 level and 177.82, 14 September current year low.