Published: 2025-10-08T12:49:20.000Z
Chart EUR/JPY Update: Fresh multi-decade high in JPY-driven trade
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Cautious trade above 177.00 has given way to a JPY-driven spike to a fresh year high around 177.85
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.00 | ** | historic congestion | S1 | 176.00 | * | break level | |
| R3 | 180.00 | ** | historic congestion | S2 | 175.00 | * | congestion | |
| R2 | 178.90 | ** | Sep 1990 high | S3 | 174.00 | ** | congestion | |
| R1 | 178.00 | ** | Jan 1991 (y) high | S4 | 173.25 | * | 3 Oct high, gap low |
Asterisk denotes strength of level
13:40 BST - Cautious trade above 177.00 has given way to a JPY-driven spike to a fresh year high around 177.85. Mixed intraday studies highlight potential for consolidation beneath here, before rising daily readings and a tick higher in broader weekly charts prompt further gains. A break above resistance at the 178.00 year high of January 1991 will further improve sentiment and extend gains towards the 178.90 high of September 1990. Meanwhile, support is raised to 176.00. A close beneath here would turn sentiment neutral and prompt consolidation above congestion around 175.00.