Published: 2025-07-17T13:17:20.000Z
Chart EUR/JPY Update: Cautious trade - room for a minor test lower
Senior Technical Strategist
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Little change, as prices extend cautious trade following the pullback from the 173.25 current year high of 16 July
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | ** | break level | S1 | 172.00 | * | congestion | |
| R3 | 174.00 | congestion | S2 | 171.00 | break level | |||
| R2 | 173.25 | 16 Jul YTD high | S3 | 170.00 | congestion | |||
| R1 | 173.00 | * | congestion | S4 | 169.00 | * | congestion |
Asterisk denotes strength of level
14:10 BST - Little change, as prices extend cautious trade following the pullback from the 173.25 current year high of 16 July. Both intraday and daily studies are turning down, highlighting room for a break below congestion support at 172.00. But mixed/positive weekly charts are expected to limit any downside tests in renewed buying interest towards 171.00. Following cautious/choppy trade, fresh gains are looked for. However, a close above 173.00 is needed to improve sentiment and extend broad August 2024 gains initially towards 174.00.