Published: 2025-07-11T13:29:57.000Z
Chart EUR/JPY Update: Back within reach of year highs
Senior Technical Strategist
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Consolidation is giving way to a fresh test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.00 | congestion | S1 | 171.00 | break level | |||
| R3 | 173.00 | * | congestion | S2 | 170.00 | congestion | ||
| R2 | 172.27 | * | 9 Jul YTD high | S3 | 169.00 | * | congestion | |
| R1 | 172.00 | * | congestion | S4 | 168.00 | ** | break level |
Asterisk denotes strength of level
14:20 BST - Consolidation is giving way to a fresh test higher, with prices once again pressuring congestion resistance at 172.00. Intraday studies are rising, suggesting potential for continuation to strong resistance at the 172.27 current year high of 9 July. But negative daily readings and flat overbought weekly stochastics are expected to limit any break in renewed selling interest beneath historical congestion around 173.00. Meanwhile, support remains at 171.00. A close beneath here would add weight to sentiment and prompt a pullback, initially to congestion around 170.00.