Chart EUR/JPY Update: Consolidating at 177.85, fresh year low
Steadied at 177.85 fresh year low as prices unwind oversold intraday studies and consolidate Monday's break of the 180.80 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.00 | ** | May low | S1 | 178.00 | * | congestion | |
| R3 | 180.80 | ** | Feb low | S2 | 177.00 | * | congestion | |
| R2 | 180.00 | ** | figure, congestion | S3 | 176.00 | * | congestion | |
| R1 | 179.35 | * | Aug low | S4 | 175.40/30 | ** | 2024 yr high, 38.2% |
Asterisk denotes strength of level
01:15 GMT - Steadied at 177.85 fresh year low as prices unwind oversold intraday studies and consolidate Monday's break of the 180.80 support. Bearish momentum keep pressure on the downside and see room for further losses to retrace gains from the February 2025 year low. Lower will see room to the 177.00/176.00 congestion area. Below here, will see scope to strong support at 175.40/30, 2024 year high and 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 179.35 low of August and extending to the 180.00 figure. This area now expected to cap and sustain losses from the 186.00 high.