Published: 2025-07-22T13:32:56.000Z
Chart EUR/JPY Update: Lower in JPY-driven trade
Senior Technical Strategist
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Consolidation is giving way to anticipated losses in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.00 | congestion | S1 | 171.00 | break level | |||
| R3 | 173.25 | ** | 16 Jul YTD high | S2 | 170.00 | congestion | ||
| R2 | 173.00 | * | congestion | S3 | 169.00 | * | congestion | |
| R1 | 172.00 | ** | break level | S4 | 168.00 | ** | break level |
Asterisk denotes strength of level
14:25 BST - Consolidation is giving way to anticipated losses in JPY-driven trade, with prices currently trading around 171.55. Intraday studies are negative and both daily and weekly readings are also under pressure, highlighting room for deeper losses in the coming sessions. Focus is on support at 171.00. A close beneath here will add weight to already bearish price action and extend losses towards congestion around 170.00. Meanwhile, a close back above 172.00 would help to stabilise price action once again and prompt consolidation beneath critical resistance at congestion around 173.00 and the 173.25 current year high of 16 July.