Chart EUR/JPY Update: Extend consolidation below 182.00 high
Still little change, as prices extend consolidation below the 182.00, November current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 185.50 | * | 23 Aug 1990 high | S1 | 180.00 | * | congestion | |
| R3 | 184.00 | * | congestion | S2 | 178.82 | ** | Oct high | |
| R2 | 182.60/00 | * | 21 Aug 1990 low, congestion | S3 | 178.00 | ** | congestion | |
| R1 | 182.00 | ** | 20 Nov YTD high | S4 | 177.00 | congestion |
Asterisk denotes strength of level
00:50 GMT - Still little change, as prices extend consolidation below the 182.00, November current year high. However, choppy prices action within the 182.00/180.00 range see the resulting flag pattern and bullish structure threatening break higher to extend gains from the 154.80, late-February low. Clearance will see further extension within the bullish channel to the 182.60/183.00 area. Would take break of the 180.00 level to ease the upside pressure and open up room for deeper pullback to retrace strong gains from the 154.80, February current year low. Lower will see room to strong support at the 178.82 and 178.00, October highs and congestion area.