Published: 2025-09-16T13:21:40.000Z
Chart EUR/JPY Update: Higher in range
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Cautious trade is giving way to a drift higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 176.00 | historic congestion | S1 | 173.00 | * | congestion | ||
| R3 | 175.40 | ** | July 2024 (y) high | S2 | 172.00 | * | break level | |
| R2 | 175.00 | ** | figure | S3 | 171.00 | ** | range lows | |
| R1 | 173.90/00 | ** | 28 Jul YTD high; cong | S4 | 170.00 | ** | congestion |
Asterisk denotes strength of level
14:10 BST - Cautious trade is giving way to a drift higher, as daily stochastics continue to rise, with prices currently trading around 173.60. Focus is on strong resistance at the 173.90 current year high of 28 July and congestion around 174.00. But the flat daily Tension Indicator and negative weekly charts are expected to limit any initial tests in consolidation. A close above here, will turn sentiment positive and extend August 2024 gains towards strong resistance within 175.00/40. Meanwhile, a break below congestion support at 173.00 will open up 172.00, where fresh consolidation is expected to develop.