Published: 2025-07-23T01:20:41.000Z
Chart EUR/JPY Update: Leaning lower from 173.25 high
Technical Analyst
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Leaning lower from the 173.25 current year high but still no follow-through on break of the 142.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.42 | ** | 11 Jul 2024 year high | S1 | 171.80 | * | 16 Jul low | |
| R3 | 174.50 | * | congestion | S2 | 170.80 | * | 11 Jul low | |
| R2 | 173.50 | * | 8 Jul 2024 low | S3 | 170.00 | ** | figure, congestion | |
| R1 | 173.25 | ** | 16 Jul YTD high | S4 | 169.70 | * | 23 Jun high |
Asterisk denotes strength of level
01:15 GMT - Leaning lower from the 173.25 current year high but still no follow-through on break of the 142.00 level. Deep overbought daily and weekly studies suggest consolidation to give way eventual break to retrace strong rally from the 161.00, May low. Break will open up room to the strong support at 170.80/170.00 area. Lower still, will see scope to support at 169.70 then the 168.45/168.00 area. Meanwhile, resistance at the 173.25 high expected to cap and keep pressure on the downside.