Published: 2025-07-09T01:20:28.000Z
Chart EUR/JPY Update: Extending gains, but stretched
Technical Analyst
1
Extending bullish break of 170.00 last week to extend strong gains from the February current year low to reach fresh year high above 172.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.42 | ** | Jul 2024 multi-year high | S1 | 170.60 | * | 3 Jul high | |
| R3 | 174.50 | * | congestion | S2 | 170.00 | * | congestion | |
| R2 | 173.50 | * | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 173.00 | * | congestion | S4 | 168.00 | ** | congestion |
Asterisk denotes strength of level
01:15 GMT - Extending bullish break of 170.00 last week to extend strong gains from the February current year low to reach fresh year high above 172.00 level. Higher will see room to the 173.00 congestion next but daily and weekly studies remains deep into overbought areas and caution corrective pullback. Meanwhile, support remains at the 170.60 high of last week and extend to the 170.00 congestion. This area now underpin while break below here will fade the upside pressure and see room for deeper corrective pullback.