Chart EUR/JPY Update: Lower in JPY-driven trade - background studies under pressure
The break above resistance at the 179.35~ monthly low of 3 August has not been sustained
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.00 | * | break level | S1 | 177.85/00 | * | 9 Sep YTD low; cong | |
| R3 | 181.00 | * | congestion | S2 | 177.50 | * | congestion | |
| R2 | 180.00 | ** | congestion | S3 | 176.50 | * | congestion | |
| R1 | 179.35~ | ** | 3 Aug (m) low | S4 | 175.30 | ** | 38.2% ret of 2025-2026 rally |
Asterisk denotes strength of level
13:25 BST - The break above resistance at the 179.35~ monthly low of 3 August has not been sustained, with subsequent consolidation giving way to a sharp JPY-driven retracement. Focus is on support at the 177.85 current year low of 9 September and congestion around 178.00, where flat oversold daily stochastics could prompt fresh consolidation. However, the bearish daily Tension Indicator and negative weekly charts highlight room for a later break and continuation of losses from the 187.95 current year high of 17 April initially towards further congestion around 176.50.
Meanwhile, a close above 179.35 would help to stabilise price action and prompt range trade beneath congestion around 180.00.