Published: 2025-07-16T01:18:37.000Z
Chart EUR/JPY Update: Still extending steep gains from May low
Technical Analyst
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Pressure remains on the upside to extend strong gains from the May low to reach the 173.00 level
| 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 | 173.08 | ** | 15 Jul YTD high | S4 | 169.70 | * | 23 Jun high |
Asterisk denotes strength of level
01:10 GMT - Pressure remains on the upside to extend strong gains from the May low to reach the 173.00 level. Bullish momentum suggest consolidation here giving way to further gains later and higher will see room for extension to 173.50 and 174.50 congestion. However, deep oversold daily and weekly studies caution corrective pullback with support raised to 172.00 congestion which should underpin. Break here will open up room for corrective pullback to strong support at the 170.80/170.00 area.