Published: 2025-09-10T01:26:16.000Z
Chart EUR/JPY Update: Under pressure
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Consolidation below the July current year high at 173.90 gave way to sharp pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | * | figure | S1 | 172.00 | * | congestion | |
| R3 | 174.50 | * | congestion | S2 | 171.00 | ** | 14 Aug low, congestion | |
| R2 | 173.90 | ** | 28 Jul YTD high | S3 | 170.00 | ** | congestion | |
| R1 | 173.00 | * | congestion | S4 | 169.00 | * | 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.