Chart EUR/JPY Update: Consolidating
Higher from the the 177.85 low as prices unwind oversold intraday and daily studies and consolidate recent sharp losses from 186.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 183.00/17 | * | congestion, Jun low | S1 | 179.00 | * | congestion | |
| R3 | 182.00 | ** | May low | S2 | 177.85 | ** | 8 Sep YTD low | |
| R2 | 180.80 | ** | Feb low | S3 | 177.00 | * | congestion | |
| R1 | 180.00 | ** | figure, congestion | S4 | 176.00 | * | congestion |
Asterisk denotes strength of level
01:20 GMT - Higher from the the 177.85 low as prices unwind oversold intraday and daily studies and consolidate recent sharp losses from the 186.00 level. Above the 179.35 low of August will open up room for stronger bounce to strong resistance at the 180.00/180.80 figure and February low which is expected to cap. Corrective bounce is expected to give way to fresh selling pressure later. Below the 177.85 low will see room to further retrace gains from the February 2025 year low and see room to the 177.00/176.00 congestion area. Lower still, will turn focus to support at 175.40/30, 2024 year high and 38.2% Fibonacci level.