Published: 2026-11-03T01:05:57.000Z
Chart EUR/JPY Update: Room to extend bounce
1
Extending bounce from the 175.08 Friday's current year low to break resistance of the falling wedge pattern at 176.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 179.35 | ** | Aug low | S1 | 176.20 | * | 5 Oct low | |
| R3 | 179.00 | * | congestion | S2 | 175.42 | * | Jul 2024 year low | |
| R2 | 178.00 | ** | congestion | S3 | 175.08 | ** | 30 Oct YTD low | |
| R1 | 177.00 | * | congestion | S4 | 174.00 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Extending bounce from the 175.08 Friday's current year low to break resistance of the falling wedge pattern at 176.50. Prices are unwinding oversold daily studies and suggest scope to regain the 177.00 level. Clearance here will see room for stronger recovery to retrace losses from the 186.00 August high and see room to the 178.00 congestion area. Higher still, will see scope to strong resistance at the 179.00/179.35 congestion and August high. Meanwhile, support is raised to the 176.20/00 area which should underpin and sustain bounce from the 175.08 low.