Chart EUR/JPY Update: Fresh year lows in JPY-driven trade
Cautious trade has given way to anticipated losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 182.00 | * | break level | S1 | 178.00 | * | congestion | |
| R3 | 181.00 | * | congestion | S2 | 177.50 | * | congestion | |
| R2 | 180.00 | ** | congestion | S3 | 176.50 | * | congestion | |
| R1 | 179.35~ | ** | 3 Aug (m) low | S4 | 175.30 | ** | 38.2% ret of 2025-2026 rally |
Asterisk denotes strength of level
14:10 BST - Cautious trade has given way to anticipated losses, with prices posting a fresh year low around 177.85 in JPY-driven trade, before bouncing into consolidation around 178.75. Intraday studies are rising and oversold daily stochastics are flat, suggesting room for further consolidation, before the bearish daily Tension Indicator and negative weekly and monthly charts prompt further losses. Support is at congestion around 178.00 and extends to 177.50. A close beneath here will add weight to already bearish price action and extend losses from the 187.95 current year high of 17 April towards further congestion around 176.50.
Meanwhile, resistance is at the 179.35~ monthly low of 3 August and extends to congestion around 180.00. A close above here is needed to help stabilise price action and prompt consolidation beneath further congestion around 181.00.