Published: 2025-08-04T01:30:34.000Z
Chart EUR/JPY Update: Under pressure, focus return to 170.00/169.72 support
Technical Analyst
1
Pressure return to the downside after bounce attempt failed to get a foothold above the 172.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.50 | * | congestion | S1 | 170.00 | * | congestion | |
| R3 | 173.90/00 | ** | 28 Jul YTD high, congestion | S2 | 169.72 | * | 31 Jul low | |
| R2 | 173.00 | * | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.00 | * | congestion | S4 | 168.00 | * | congestion |
Asterisk denotes strength of level
01:20 GMT - Pressure return to the downside after bounce attempt failed to get a foothold above the 172.00 level. Nearby see support at the 170.00 figure and 169.72 low of 31 July. Would take break of these to further extend losses from the 173.90 current year high to retrace strong rally from the May low. Break will see room to support at 168.45 and 168.00. Lower still will see room to 167.50, 50% Fibonacci level. Meanwhile, resistance is at the 172.00 congestion which is expected to cap corrective bounce and sustain losses from the 173.90 high.