Chart EUR/JPY Update: Consolidating below 187.95 multi-year high
Bounce from the 186.25 low to regain the 187.00 level open up room for retest of Friday's 187.95, multi-year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 193.00 | * | congestion | S1 | 186.85 | * | Jan high | |
| R3 | 190.00 | * | figure | S2 | 186.25/00 | ** | 20 Apr low, congestion | |
| R2 | 188.20 | ** | May 1990 yr high | S3 | 184.75/50 | ** | 25 Feb high, congestion | |
| R1 | 187.95 | ** | 17 Apr YTD high | S4 | 184.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Bounce from the 186.25 low to regain the 187.00 level open up room for retest of Friday's 187.95, multi-year high. Just above here will see scope to resistance at 188.20 May 1990 year high. Would expect reaction at these highs but a later break cannot be ruled out. Break will see room for extension to the 190.00 figure. Meanwhile, support is at the 186.85 January high which extend to the 186.25/00 area. Would take break of these to ease the upside pressure and see room for deeper pullback to retrace gains from the 180.80 February low to strong support at the 184.75/184.50, 25 February high and congestion area.