Chart EUR/JPY Update: Extending choppy trade - room for a minor test higher
The test below congestion support at 177.00 has bounced sharply from 176.65~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 180.00 | ** | break level | S1 | 177.00 | ** | congestion | |
| R3 | 179.50 | range highs | S2 | 176.20~ | ** | 5 Oct YTD low | ||
| R2 | 179.00 | * | congestion | S3 | 176.00 | ** | congestion | |
| R1 | 178.00 | * | congestion | S4 | 175.70 | ** | 5 Nov 2025 (m) low |
Asterisk denotes strength of level
14:10 BST - The test below congestion support at 177.00 has bounced sharply from 176.65~, with prices once again trading back above 177.00. Daily stochastics and the daily Tension Indicator continue to rise, pointing to room for a test of congestion resistance at 178.00. But mixed/negative weekly charts and bearish longer-term studies should limit any break in renewed selling interest beneath further congestion around 179.00.
Meanwhile, support remains at 177.00. A later close back beneath here will add weight to sentiment and open up strong support within congestion around 176.00 and the 176.20~ current year low of 5 October. A close beneath here will turn sentiment negative and confirm continuation of broad April losses below the 175.70 monthly low of 5 November 2025.