Published: 2025-07-17T01:12:30.000Z
Chart EUR/JPY Update: Consolidating extension to 173.25, fresh year high
Technical Analyst
1
No follow-through on break above the 173.00 level as prices settled back in consolidation from the 173.25, fresh year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 175.42 | ** | 11 Jul 2024 year high | S1 | 172.00 | * | congestion | |
| R3 | 174.50 | * | congestion | S2 | 170.80 | * | 11 Jul low | |
| R2 | 173.50 | * | 8 Jul 2024 low | S3 | 170.00 | ** | figure, congestion | |
| R1 | 173.25 | ** | 16 Jul YTD high | S4 | 169.70 | * | 23 Jun high |
Asterisk denotes strength of level
01:10 GMT - No follow-through on break above the 173.00 level as prices settled back in consolidation from the 173.25, fresh year high. However, bullish price action keeps pressure on the upside and suggest consolidation here giving way to further gains later. Higher will see room for extension to 173.50 and 174.50 congestion but deep overbought daily and weekly studies caution corrective pullback. Support at the 172.00 congestion underpin and see break here needed to open up room for corrective pullback to strong support at the 170.80/170.00 area.