Published: 2025-08-13T09:09:13.000Z
Chart EUR/JPY Update: Consolidating test of 173.00 - daily studies continue to rise
Senior Technical Strategist
1
The anticipated test of congestion resistance at 173.00 is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.45~ | ** | July 2024 (y) high | S1 | 172.00 | * | break level | |
| R3 | 175.00 | ** | figure | S2 | 171.00 | ** | break level | |
| R2 | 173.90/00 | ** | 28 Jul YTD high; cong | S3 | 170.00 | congestion | ||
| R1 | 173.00 | * | congestion | S4 | 169.00 | * | congestion, 38.2% ret |
Asterisk denotes strength of level
10:00 BST - The anticipated test of congestion resistance at 173.00 is giving way to a pullback, as overbought intraday studies unwind, with prices currently balanced around 172.50. Daily readings continue to rise, suggesting room for a retest of 173.00. But negative weekly charts should limit any break in renewed selling interest beneath critical resistance at the 173.90 current year high of 28 July and congestion around 174.00. Meanwhile, support remains at 172.00. A break beneath here will turn sentiment neutral and prompt consolidation above 171.00.