Published: 2025-07-24T13:46:03.000Z
Chart EUR/JPY Update: Back in range
Senior Technical Strategist
1
Cautious trade has given way to a push higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | congestion | S1 | 172.00 | * | break level | ||
| R3 | 174.00 | congestion | S2 | 171.00 | ** | break level | ||
| R2 | 173.25 | ** | 16 Jul YTD high | S3 | 170.00 | congestion | ||
| R1 | 173.00 | * | congestion | S4 | 169.00 | * | congestion |
Asterisk denotes strength of level
14:30 BST - Cautious trade has given way to a push higher, as intraday studies rise, with prices currently balanced in consolidation above 172.00. Immediate focus is on congestion resistance at 173.00 and the 173.25 current year high of 16 July. But negative daily readings and a tick lower in overbought weekly stochastics are expected to limit any tests in fresh consolidation. Meanwhile, a close below 172.00 will add weight to sentiment. But a further close below 171.00 is needed to confirm a near-term top in place around 173.00 and extend losses towards 170.00.