Chart EUR/JPY Update: Pressuring year highs
Little change, as prices extend choppy trade around resistance at the 186.87 current year high of 23 January
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.60 | * | August 1990 high | S1 | 186.00 | * | congestion | |
| R3 | 187.35 | ** | 50% ret of 1979-2000 fall | S2 | 185.00 | ** | break level | |
| R2 | 187.00 | figure | S3 | 184.00 | * | congestion | ||
| R1 | 186.87 | ** | 23 Jan YTD high | S4 | 183.00 | * | break level |
Asterisk denotes strength of level
14:15 BST - Little change, as prices extend choppy trade around resistance at the 186.87 current year high of 23 January. Daily readings have ticked higher and broader weekly charts continue to improve, highlighting room for further strength in the coming sessions. A close above here will improve sentiment and extend long-term gains towards the 187.35 multi-year Fibonacci retracement. Already overbought daily stochastics could prompt fresh profit-taking towards here. Meanwhile, support remains at congestion around 186.00. A close beneath here would turn sentiment neutral and prompt consolidation above further congestion around 185.00.