Published: 2025-09-24T01:02:55.000Z
Chart EUR/JPY Update: Pressuring 174.50 high, scope for break
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Firm in range to pressure the 174.50 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 176.00 | figure | S1 | 173.50 | congestion | |||
| R3 | 175.40 | ** | July 2024 year high | S2 | 173.00 | * | Aug high, congestion | |
| R2 | 175.00 | * | figure | S3 | 172.14 | ** | 9 Sep low | |
| R1 | 174.50 | ** | 19 Sep YTD high | S4 | 171.00 | * | 14 Aug low, congestion |
Asterisk denotes strength of level
00:50 GMT - Firm in range to pressure the 174.50 high with the flag pattern suggesting scope for break higher to extend the underlying bull trend from the February/August 2024 double bottom. Clearance will open up room to the 175.00 figure but focus will turn to the 175.40, 2024 year high. Meanwhile, support is at the 173.90 July high and extending to 173.50 congestion which should underpin. Would take break here to open up room for deeper pullback to support at 173.00 and 172.14/00 area.