Published: 2025-07-25T13:52:31.000Z
Chart EUR/JPY Update: Fresh year high
Senior Technical Strategist
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Cautious trade around 173.00 has posted a fresh year high around 173.60
| 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 | 173.60 | current year high | S3 | 170.00 | congestion | |||
| R1 | 173.00 | * | congestion | S4 | 169.00 | * | congestion |
Asterisk denotes strength of level
14:35 BST - Cautious trade around 173.00 has posted a fresh year high around 173.60, before settling back into consolidation around 173.00. Mixed intraday studies highlight potential for further consolidation. But a tick higher in daily readings point to room for a later break back above 173.00 and continuation of broad August 2024 gains initially to further congestion around 174.00. Meanwhile, support remains at 172.00. But a close below 171.00 is needed to confirm a near-term top in place and extend losses initially towards 170.00.