Chart EUR/JPY Update: Balanced at year highs
Anticipated gains have posted a fresh 2025 year high around 172.43
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.00 | ** | break level | S1 | 172.00 | * | congestion | |
| R3 | 174.00 | congestion | S2 | 171.00 | break level | |||
| R2 | 173.00 | * | congestion | S3 | 170.00 | congestion | ||
| R1 | 172.43~ | * | 11 Jul YTD high | S4 | 169.00 | * | congestion |
Asterisk denotes strength of level
14:20 BST - Anticipated gains have posted a fresh 2025 year high around 172.43, with prices currently balanced around 172.20 as intraday studies turn mixed. Daily readings are also mixed and weekly stochastics are flat in overbought areas, suggesting potential for further cautious trade around year highs. However, the weekly Tension Indicator is positive and longer-term charts are also rising, pointing to potential for a later break higher and extension of August 2024 gains towards congestion around 173.00. Meanwhile, support is raised to congestion around 172.00. But a close below 171.00 would add weight to sentiment and prompt a pullback, initially to congestion around 170.00.