Chart EUR/JPY Update: Higher in both EUR- and JPY-driven trade
Cautious trade has given way to a sharp EUR- and JPY-driven break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 181.55 | ** | 18 Sep (w) high | S1 | 178.00 | * | congestion | |
| R3 | 180.75 | * | range highs, break level | S2 | 177.00 | * | congestion | |
| R2 | 180.00 | ** | congestion | S3 | 176.00 | ** | congestion | |
| R1 | 179.00 | * | congestion | S4 | 175.30 | ** | 38.2% ret of 2025-2026 rally |
Asterisk denotes strength of level
14:05 GMT - Cautious trade has given way to a sharp EUR- and JPY-driven break higher, with prices currently balanced around 178.35. Daily studies continue to rise and oversold weekly stochastics are ticking higher, suggesting room for further strength in the coming sessions. Resistance is at congestion around 179.00. A close above here will open up further congestion around 180.00. However, already overbought daily stochastics and the flat weekly Tension Indicator could limit any initial tests in consolidation/range extension.
Meanwhile, support is raised to congestion around 178.00. A close beneath here, if seen, will help to stabilise sentiment and prompt consolidation/range extension above further congestion around 177.00.