Published: 2025-06-27T13:37:31.000Z
Chart EUR/JPY Update: Fresh year high - strong resistance at the 170.50 Fibonacci retracement
Senior Technical Strategist
2
Cautious trade is giving way to a fresh test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 171.00 | break level | S1 | 169.00 | * | congestion | ||
| R3 | 170.50 | ** | 76.4% ret of 2024 fall | S2 | 168.00 | ** | break level | |
| R2 | 170.00 | congestion | S3 | 166.00 | * | congestion | ||
| R1 | 169.75~ | fresh 2025 year high | S4 | 165.00 | * | break level |
Asterisk denotes strength of level
14:30 BST - Cautious trade is giving way to a fresh test higher, with prices currently consolidating the run to the 169.75~ fresh year high. Intraday studies have ticked higher, suggesting room for a test of congestion resistance at 170.00. But mixed/negative daily readings and flattening overbought weekly stochastics are expected to limit any initial break above here in renewed selling interest towards strong resistance at the 170.50 Fibonacci retracement. Meanwhile, support is raised to congestion around 169.00. A break beneath here, if seen, will turn sentiment neutral and give way to consolidation above 168.00.