Published: 2025-09-01T13:52:08.000Z
Chart EUR/JPY Update: Gains to remain limited
Senior Technical Strategist
1
Cautious trade has given way to a EUR-driven bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.40 | ** | July 2024 (y) high | S1 | 172.00 | * | break level | |
| R3 | 175.00 | ** | figure | S2 | 171.00 | ** | range lows | |
| R2 | 173.90/00 | ** | 28 Jul YTD high; cong | S3 | 170.00 | ** | congestion | |
| R1 | 173.00 | * | congestion | S4 | 169.00 | ** | congestion, 38.2% ret |
Asterisk denotes strength of level
14:30 BST - Cautious trade has given way to a EUR-driven bounce, with the break above 172.00 giving way to consolidation beneath 172.50. Daily stochastics are rising unwinding oversold areas and the negative daily Tension Indicator is flattening, suggesting room for continuation towards congestion resistance at 173.00. However, negative weekly charts are expected to limit any initial break in renewed selling interest beneath critical resistance at the 173.90 current year high of 28 July and congestion around 174.00. Meanwhile, a break back below 172.00 would give way to consolidation above 171.00.