Chart EUR/JPY Update: Higher in consolidation from 182.00 low
Higher as prices extend consolidation above 183.50/183.00 congestion area following bounce from the 182.00 spike low last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.55/95 | ** | Apr highs | S1 | 183.50/00 | * | congestion | |
| R3 | 186.87 | * | Jan high | S2 | 182.00 | ** | Nov high, congestion | |
| R2 | 186.00/23 | ** | congestion, 20 Apr low | S3 | 180.80 | ** | 12 Feb YTD low | |
| R1 | 185.00 | ** | congestion | S4 | 180.00 | ** | figure |
Asterisk denotes strength of level
01:00 GMT - Higher as prices extend consolidation above 183.50/183.00 congestion area following bounce from the 182.00 spike low last week. Choppy trade around the 184.00 level is expected to give way to renewed selling pressure later to extend losses from the 187.95 April current year high. Below the 183.00 support will return focus to the 182.00 low and see potential for break to open up room to the 180.80, 12 February current year low. Meanwhile, resistance remains at the 185.00 level high which is expected to cap corrective bounce and sustain losses from the 157.55/157.95 April current year highs.