Published: 2025-08-05T13:41:05.000Z
Chart EUR/JPY Update: Limited tests higher - studies under pressure
Senior Technical Strategist
1
The anticipated test of 170.00 is giving way to a minor bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 173.90/00 | ** | 28 Jul YTD high; cong | S1 | 170.00 | congestion | ||
| R3 | 173.00 | * | congestion | S2 | 169.00 | * | congestion, 38.2% ret | |
| R2 | 172.00 | * | break level | S3 | 168.00 | ** | congestion | |
| R1 | 171.00 | ** | break level | S4 | 167.50 | ** | 50% ret of Mar-Jul rally |
Asterisk denotes strength of level
14:30 BST - The anticipated test of 170.00 is giving way to a minor bounce, as oversold intraday studies unwind, with prices currently trading around 170.50. Continuation towards 171.00 cannot be ruled out. But negative daily and weekly charts should limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A later close below 170.00 will add weight to sentiment and open up stronger support at 169.00. Already oversold daily stochastics could limit any initial tests in consolidation, before late-July losses extend towards the 167.50 Fibonacci retracement.