Published: 2025-08-06T13:47:23.000Z
Chart EUR/JPY Update: Further gains to remain limited
Senior Technical Strategist
1
The anticipated test of 171.00 is extending
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | ** | figure | S1 | 171.00 | ** | break level | |
| R3 | 173.90/00 | ** | 28 Jul YTD high; cong | S2 | 170.00 | congestion | ||
| R2 | 173.00 | * | congestion | S3 | 169.00 | * | congestion, 38.2% ret | |
| R1 | 172.00 | * | break level | S4 | 168.00 | ** | congestion |
Asterisk denotes strength of level
14:30 BST - The anticipated test of 171.00 is extending, as intraday studies rise and oversold daily stochastics flatten, with prices currently trading around 171.20. Further gains cannot be ruled out. But the bearish daily Tension Indicator and deteriorating weekly charts are expected to limit scope in renewed selling interest beneath congestion around 173.00. Following any corrective trade, fresh losses are looked for. A break back below 171.00 will open up congestion around 170.00. Continuation beneath here will add weight to sentiment and extend late-July losses initially to 169.00.