Chart EUR/JPY Update: Consolidating below 186.00/23 resistance
Little change, as prices extend consolidation within the 186.00/185.00 range area following rejection from resistance at 186.00/23
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.95 | ** | 17 Apr YTD high | S1 | 185.00 | ** | congestion | |
| R3 | 187.55 | * | 30 Apr high | S2 | 184.00 | ** | congestion, 14 May low | |
| R2 | 186.87 | * | Jan high | S3 | 183.50 | * | congestion | |
| R1 | 186.00/23 | ** | congestion, 20 Apr low | S4 | 183.00 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Little change, as prices extend consolidation within the 186.00/185.00 range area following rejection from resistance at 186.00/23, congestion and 20 April low. Would take break of the 185.00 level to ease the upside pressure and see room for deeper pullback to retrace strong gains from the 182.00 May low. Lower will see room to the strong support at the 184.00, congestion and 14 May low. Resistance at the 186.00/23 area is expected to cap. Clearance here, if seen, will see room to retest the January high at 186.87 and see potential for extension to the 187.55/187.95, April and YTD highs.