Chart EUR/JPY Update: Higher in consolidation above 184.00
Extend bounce above the 184.00 level as prices consolidate losses from the 186.85 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 186.30 | ** | 16 Jun high | S1 | 184.00 | * | congestion, 8 Jun low | |
| R3 | 186.00 | * | congestion | S2 | 183.17/00 | ** | Jun low, congestion | |
| R2 | 185.85 | ** | 30 Jun high | S3 | 182.00 | ** | congestion, May low | |
| R1 | 185.00 | * | congestion | S4 | 180.80 | ** | 12 Feb YTD low |
Asterisk denotes strength of level
01:15 GMT - Extend bounce above the 184.00 level as prices consolidate losses from the 186.85 high of last week. Choppy trade is expected to give way to fresh selling pressure later to retest the 184.00 support. Break here will turn focus to the 183.17 June low. Below this and the trendline from the February low at 182.90 will open up room for extension to retest 182.00 and 180.80, the May and February current year lows. Below these will trigger a 6-month top pattern at the 187.95 high and see deeper pullback to retrace gains from the 2025 year low. Meanwhile, resistance at the 185.00 level is expected to cap and sustain rejection from the 185.85 high.