Published: 2025-07-24T01:08:55.000Z
Chart EUR/JPY Update: Limited below 172.00, but room for deeper pullback
Technical Analyst
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No follow-through on break of the 172.00 level as prices extend choppy trade below the 173.25, current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.42 | ** | 11 Jul 2024 year high | S1 | 172.00 | * | congestion | |
| R3 | 174.50 | * | congestion | S2 | 170.80 | * | 11 Jul low | |
| R2 | 173.50 | * | 8 Jul 2024 low | S3 | 170.00 | ** | figure, congestion | |
| R1 | 173.25 | ** | 16 Jul YTD high | S4 | 169.70 | * | 23 Jun high |
Asterisk denotes strength of level
01:05 GMT - No follow-through on break of the 172.00 level as prices extend choppy trade below the 173.25, current year high. However, daily studies are unwinding overbought readings and suggest consolidation giving way eventual break to retrace strong rally from the 161.00, May low. Break will open up room to the strong support at 170.80/170.00 area. Lower still, will see scope to support at 169.70 then the 168.45/168.00 area. Meanwhile, resistance at the 173.25 high expected to cap and keep pressure on the downside.