Chart EUR/JPY Update: Leaning lower in choppy trade
The anticipated retest of resistance at the 184.90~ fresh multi-year high and 185.00 has not been seen
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.60 | ** | August 1990 high | S1 | 183.00 | * | break level | |
| R3 | 187.35 | ** | 50% ret of 1979-2000 fall | S2 | 182.00 | * | break level | |
| R2 | 186.00 | * | figure | S3 | 181.00 | ** | congestion | |
| R1 | 185.00 | * | figure | S4 | 180.00 | ** | historic congestion |
Asterisk denotes strength of level
09:55 GMT - The anticipated retest of resistance at the 184.90~ fresh multi-year high and 185.00 has not been seen, as mixed/negative intraday studies prompt choppy trade above support at 183.00. Daily readings are turning down and broader weekly charts are under pressure, suggesting room for further losses in the coming sessions. A break below 183.00 will add weight to sentiment and open up support at 182.00. Further slippage will target 180.00. Meanwhile, a close above 185.00 is needed to turn sentiment positive and extend long-term gains towards the 187.35 historic Fibonacci retracement and the 187.60 high of August 1990.