Published: 2025-06-19T13:27:18.000Z
Chart EUR/JPY Update: Choppy beneath the 167.50 Fibonacci retracement
Senior Technical Strategist
2
Still little change, as prices extend cautious trade following the anticipated test of congestion support at 166.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 170.00 | congestion | S1 | 166.00 | * | congestion | ||
| R3 | 169.20 | 24 Jul 2024 high | S2 | 165.00 | * | break level | ||
| R2 | 168.00 | ** | break level | S3 | 164.00 | ** | break level | |
| R1 | 167.50~ | ** | 61.8% ret of 2024 fall | S4 | 163.00 | congestion |
Asterisk denotes strength of level
14:15 BST - Still little change, as prices extend cautious trade following the anticipated test of congestion support at 166.00. Overbought daily stochastics are unwinding and the positive daily Tension Indicator is turning down, highlighting room for fresh tests lower in the coming sessions. A break below 166.00 will open up 165.00. But rising weekly charts are expected to limit any tests in renewed buying interest. Meanwhile, a close above resistance at the 167.50~ Fibonacci retracement is needed to turn price action positive and confirm continuation of August 2024 gains.