Chart EUR/JPY Update: Cautious trade - daily studies continue to rise
Little change, as negative intraday studies keep near-term sentiment cautious and prompt extend consolidation beneath resistance at the 179.35~ monthly low of 3 August
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.00 | * | break level | S1 | 177.85/00 | * | 9 Sep (w) low; cong | |
| R3 | 181.00 | * | congestion | S2 | 177.50 | * | congestion | |
| R2 | 180.00 | ** | congestion | S3 | 176.50 | * | congestion | |
| R1 | 179.35~ | ** | 3 Aug (m) low | S4 | 175.30 | ** | 38.2% ret of 2025-2026 rally |
Asterisk denotes strength of level
14:30 BST - Little change, as negative intraday studies keep near-term sentiment cautious and prompt extend consolidation beneath resistance at the 179.35~ monthly low of 3 August. However, daily stochastics continue to track higher, unwinding oversold areas, and the flat daily Tension Indicator is also improving, suggesting room for further strength in the coming sessions. A break above 179.35 will open up congestion around 180.00. But negative weekly charts should limit any tests in renewed selling interest/consolidation.
Meanwhile, support remains at congestion around 178.00 and extends to the 177.85 weekly low of 9 September. A close beneath here, not yet seen, will add weight to sentiment and extend losses from the 187.95 current year high of 17 April initially towards further congestion around 176.50.