Chart EUR/JPY Update: Lower in consolidation from test of 186.00/23
Settled back from test of strong resistance at the 186.00/23 congestion and 20 April low as prices unwind overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.95 | ** | 17 Apr YTD high | S1 | 185.00 | ** | congestion | |
| R3 | 187.55 | * | 30 Apr high | S2 | 184.00 | ** | congestion, 14 May low | |
| R2 | 186.87 | * | Jan high | S3 | 183.50 | * | congestion | |
| R1 | 186.00/23 | ** | congestion, 20 Apr low | S4 | 183.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Settled back from test of strong resistance at the 186.00/23 congestion and 20 April low as prices unwind overbought daily studies. Pullback see support starting at the 185.00 congestion and break here will ease the upside pressure and see room for deeper pullback to retrace strong gains from the 182.00 May low. Lower will see room to the strong support at the 184.00, congestion and 14 May low. Resistance at the 186.00/23 area is expected to cap. Clearance, if seen, will see room to retest the January high at 186.87 and see potential for extension to the 187.55/187.95, April and YTD highs.