Chart EUR/JPY Update: Pressuring strong support - studies under pressure
The anticipated break below 176.00 has reached support at the 175.30 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 179.00 | * | congestion | S1 | 175.30 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 178.00 | * | congestion | S2 | 175.00 | * | congestion | |
| R2 | 177.00 | * | congestion | S3 | 174.70 | ** | 6 Oct 25 low, gap high | |
| R1 | 176.00 | ** | congestion | S4 | 173.25 | ** | 3 Oct 25 high, gap low |
Asterisk denotes strength of level
14:05 BST - The anticipated break below 176.00 has reached support at the 175.30 Fibonacci retracement. Intraday studies are under pressure and both daily and longer-term charts are bearish, highlighting room for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend April losses below 175.00 towards the 174.70 gap high from 6 October. A further break will add weight to already bearish price action and put focus on the 173.25 gap low.
Meanwhile, resistance is at congestion around 176.00. An unexpected close above here will help to stabilise sentiment and prompt fresh range extension beneath further congestion around 177.00.