Chart EUR/JPY Update: Balanced at fresh year highs - studies improving
The test above 182.00 has posted a fresh year high around 182.15
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.35 | ** | 50% ret of 1979-2000 fall | S1 | 181.00 | ** | congestion | |
| R3 | 185.00 | * | figure | S2 | 180.00 | ** | historic congestion | |
| R2 | 183.00 | * | figure | S3 | 179.00 | * | break level | |
| R1 | 182.00 | * | historic congestion | S4 | 178.00 | break level |
Asterisk denotes strength of level
14:30 GMT - The test above 182.00 has posted a fresh year high around 182.15, where flat overbought intraday studies are prompting consolidation. Oversold daily stochastics are unwinding and the negative daily Tension Indicator is flattening, suggesting room for further gains in the coming sessions. A close above 182.00 will improve price action and extend long-term gains towards 183.00. Flattening overbought weekly stochastics could prompt fresh profit-taking/consolidation towards here. Meanwhile, support is at congestion around 181.00. A close beneath here would turn sentiment neutral and prompt consolidation above further congestion around 180.00.