Published: 2025-08-12T11:03:41.000Z
Chart EUR/JPY Update: Gains to remain limited
Senior Technical Strategist
1
Cautious trade has given way to a break above 172.00 in JPY-driven trade
| 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
11:45 BST - Cautious trade has given way to a break above 172.00 in JPY-driven trade, with prices currently balanced around 172.35 following a run to 173.50. Daily studies have ticked higher, suggesting room for continuation towards congestion resistance at 173.00. But negative weekly stochastics and the deteriorating weekly Tension Indicator are expected to limit any initial tests in renewed consolidation. Meanwhile, support is raised to 172.00. A break beneath here will turn sentiment neutral once again and give way to consolidation above 171.00.