Published: 2026-10-29T14:18:46.000Z
Chart EUR/JPY Update: Range trade - background studies under pressure
1
Little change, as prices extend pressure on congestion resistance at 176.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 179.00 | * | congestion | S1 | 175.30 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 178.00 | * | congestion | S2 | 175.00/10~ | * | congestion; 23 Oct YTD low | |
| R2 | 177.00 | * | congestion | S3 | 174.70 | ** | 6 Oct 25 low, gap high | |
| R1 | 176.00 | ** | congestion | S4 | 173.25 | ** | 5 Oct 25 high, gap low |
Asterisk denotes strength of level
14:05 GMT - Little change, as prices extend pressure on congestion resistance at 176.00. Both intraday and daily studies have turned mixed/negative, suggesting any immediate tests above here should be limited in renewed selling interest beneath further congestion around 177.00.
Meanwhile, support remains at the 175.30 Fibonacci retracement. Following cautious/corrective trade, a break beneath here is looked for, with the 175.10 current year low of 23 October to then attract. Continuation beneath here will add weight to sentiment and extend April losses initially towards the 174.70 gap high from 6 October.