Published: 2025-08-01T01:33:34.000Z
Chart EUR/JPY Update: Sharp bounce to 172.00
Technical Analyst
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Saw sharp rebound from the 169.72 low has seen rally to regain the 172.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.50 | * | congestion | S1 | 171.00 | * | congestion | |
| R3 | 173.90/00 | ** | 28 Jul YTD high, congestion | S2 | 169.72 | * | 31 Jul low | |
| R2 | 173.00 | * | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.50 | * | congestion | S4 | 168.00 | * | 38.2% May/Jul rally |
Asterisk denotes strength of level
01:25 GMT - Saw sharp rebound from the 169.72 low has seen rally to regain the 172.00 level. Daily studies have turned up from oversold areas and suggest room to extend gains to the 172.50/173.00 congestion area. However, gains likely to struggle to clear this and keep the 173.90 high out of reach. Corrective bounce expected to give way to renewed selling pressure later to retest 171.00 congestion. Would take break here to expose the 170.00 level and 169.72 low to retest and further extend losses from the July high.