Published: 2026-10-06T01:09:51.000Z
Chart EUR/JPY Update: Under pressure, but stretched
1
No follow-through on break of the 177.00 level following bounce from fresh year low at 176.21
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 180.80 | ** | Feb low | S1 | 177.00 | * | congestion | |
| R3 | 180.00 | * | congestion | S2 | 176.00 | * | congestion | |
| R2 | 179.35 | ** | Aug low | S3 | 175.42 | ** | Jul 2024 year high | |
| R1 | 178.00 | * | congestion | S4 | 175.30 | * | 38.2% 2025/2026 rally |
Asterisk denotes strength of level
01:10 GMT - No follow-through on break of the 177.00 level following bounce from fresh year low at 176.21. The resulting pin bars off recent lows caution corrective bounce from the 176.00 level to unwind oversold daily and weekly studies. Resistance starts at the 178.00 congestion and regaining this needed to open up room for stronger bounce to strong resistance at the 179.35 August low and 180.00 figure. Meanwhile, break of the 176.00 level, if seen, will see room for extension to strong support at 175.42/30, July 2024 year high and 38.2% Fibonacci retracement.