Chart EUR/JPY Update: Choppy trade - background under pressure
Cautious trade has given way to a test below congestion support at 177.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 180.00 | ** | congestion | S1 | 177.00 | ** | congestion | |
| R3 | 179.50 | range highs | S2 | 176.20~ | ** | 5 Oct YTD low | ||
| R2 | 179.00 | * | congestion | S3 | 176.00 | ** | congestion | |
| R1 | 178.00 | * | congestion | S4 | 175.70 | ** | 5 Nov 2025 (m) low |
Asterisk denotes strength of level
14:55 BST - Cautious trade has given way to a test below congestion support at 177.00, with prices reaching 176.50 before bouncing back above 177.00. Daily readings continue to rise, highlighting room for a move towards congestion resistance at 178.00. But negative weekly charts should limit any immediate tests in fresh consolidation.
Following cautious/corrective trade, fresh losses are looked for. A later break back below 177.00 will add weight to sentiment and open up the 176.20~ current year low of 5 October and congestion around 176.00. A further break will turn sentiment negative and confirm continuation of broad April losses below the 175.70 monthly low of 5 November 2025.