Published: 2025-07-04T01:28:35.000Z
Chart EUR/JPY Update: Consolidating below 170.60, fresh year high
Technical Analyst
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Consolidation below the 170.00 level has given way to break to reach fresh year high at 170.60
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 172.00 | * | congestion | S1 | 170.00 | * | congestion | |
| R3 | 171.50 | * | congestion | S2 | 168.45 | * | 1 Jul low | |
| R2 | 171.00 | congestion | S3 | 168.00 | ** | congestion | ||
| R1 | 170.60 | ** | 3 Jul YTD high | S4 | 167.60 | * | 17 Jun high |
Asterisk denotes strength of level
01:15 GMT - Consolidation below the 170.00 level has given way to break to reach fresh year high at 170.60. Bullish momentum from the 161.00 may low keeps pressure on the upside and further gains cannot be ruled out despite the overbought readings on daily studies. Higher will see room to resistance at the 171.00 level and 171.50 congestion. Meanwhile, support is raised to the 170.00/169.70 congestion area which should underpin. Below here will see prices back in consolidation to the strong support at the 168.45/168.00 area.