Chart EUR/JPY Update: Pressuring current year lows
Little change, as prices extend consolidation above strong support at the 180.80 current year low of 12 February
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 185.00 | ** | break level | S1 | 181.00 | ** | congestion | |
| R3 | 184.00 | * | congestion | S2 | 180.80 | * | 12 Feb YTD low | |
| R2 | 183.00 | * | break level | S3 | 180.30 | * | 38.2% ret of Jul-Jan rally | |
| R1 | 182.50 | * | break level | S4 | 180.00 | ** | congestion |
Asterisk denotes strength of level
11:55 GMT - Little change, as prices extend consolidation above strong support at the 180.80 current year low of 12 February. Intraday studies are turning down and daily readings are under pressure, highlighting room for fresh losses in the coming sessions. A close below 180.80 will add weight to sentiment and confirm a near-term top in place at the 186.87 current year high of 23 January. Focus will then turn to the 180.30 Fibonacci retracement, with negative weekly charts pointing at room for still deeper losses. Meanwhile, resistance remains at 182.50 and extends to 183.00. This range should continue to cap any immediate tests higher.