Chart EUR/JPY Update: Consolidating test of 186.00
Little change, as prices edged lower in consolidation following test of the 186.00 level as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.95 | ** | 17 Apr YTD high | S1 | 185.00 | * | congestion | |
| R3 | 186.87 | * | Jan high | S2 | 184.00 | * | congestion | |
| R2 | 186.30 | ** | Jun high | S3 | 183.17/00 | ** | Jun low, congestion | |
| R1 | 186.00 | * | congestion | S4 | 182.00 | ** | congestion, May low |
Asterisk denotes strength of level
01:10 GMT - Little change, as prices edged lower in consolidation following test of the 186.00 level as prices unwind overbought intraday studies. Daily studies are stretched as well and caution pullback to retrace choppy gains from the 183.17 June low. Support at the 185.00/184.00 congestion area is expected to underpin. Would take break here to fade the upside pressure and expose the 183.17/00 congestion area to retest. Meanwhile, resistance at the 186.00 level and extending to the 186.30 June high is expected to cap. Clearance, if seen, will return focus to the 187.55/187.95 April highs.