Published: 2025-08-26T13:12:59.000Z
Chart EUR/JPY Update: Consolidating - studies under pressure
Senior Technical Strategist
1
The break below 172.00 has given way to choppy trade above 171.30
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | ** | figure | S1 | 171.00 | ** | range lows | |
| R3 | 173.90/00 | ** | 28 Jul YTD high; cong | S2 | 170.00 | ** | congestion | |
| R2 | 173.00 | * | congestion | S3 | 169.00 | ** | congestion, 38.2% ret | |
| R1 | 172.00 | * | break level | S4 | 168.00 | ** | break level |
Asterisk denotes strength of level
14:05 BST - The break below 172.00 has given way to choppy trade above 171.30, with prices edging higher once again to test 172.00. Intraday studies are mixed/positive, suggesting room for a test above here. But negative daily readings and deteriorating weekly charts are expected to limit scope in renewed selling interest beneath congestion resistance at 173.00. Following cautious trade, fresh losses are looked for. A break below support at 171.00 will open up congestion around 170.00. A further close beneath here will add weight to sentiment and extend late-July losses initially to strong support at 169.00.