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Published: 2025-09-10T01:26:16.000Z

Chart EUR/JPY Update: Under pressure

byPakLai Ng

Technical Analyst
-

Consolidation below the July current year high at 173.90 gave way to sharp pullback 

 LevelsImpComment  LevelsImpComment
R4175.00*figure S1172.00*congestion
R3174.50*congestion S2171.00**14 Aug low, congestion
R2173.90**28 Jul YTD high S3170.00**congestion
R1173.00*congestion S4169.00*38.2% May/Jul rally

Asterisk denotes strength of level

01:20 GMT - Consolidation below the July current year high at 173.90 gave way to sharp pullback as prices unwind overbought intraday studies. Daily studies have turn down from overbought areas as well and suggest room for deeper pullback to retrace gains from the 170.00 level. Break of the 172.00 level will see risk for return to the 171.00 support. Would take break here and the 170.00 level to confirm a top in place at the 173.90 high and open up room for deeper pullback. Meanwhile, resistance is lowered to the 173.00 level now expected to cap and sustain pullback from 173.90 high.

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Topics
EUR/JPY-TA
DM-Technical
Technical Analysis

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