Published: 2025-07-08T01:36:23.000Z
Chart EUR/JPY Update: Extending gains
Technical Analyst
1
Extending bullish break of the 170.00 level last week to reach fresh year high at 171.80
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.00 | * | congestion | S1 | 170.60 | * | 3 Jul high | |
| R3 | 173.50 | * | congestion | S2 | 170.00 | * | congestion | |
| R2 | 172.92 | * | 16 Jul 2024 high | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.00 | * | congestion | S4 | 168.00 | ** | congestion |
Asterisk denotes strength of level
01:30 GMT - Extending bullish break of the 170.00 level last week to reach fresh year high at 171.80. Bullish momentum from the May low keeps focus firmly on the upside and see the 172.00 level now within reach. Higher still will see room to the 172.92 high of 16 July 2024. Daily and weekly studies remains deep into overbought areas and caution corrective pullback. Meanwhile, support is raised to 170.60 high of last week and extending to the 170.00 congestion. This area now underpin while break below here will fade the upside pressure and see room for deeper corrective pullback.