Chart EUR/JPY Update: Consolidating gains
Consolidation has met selling interest around 178.45/50, as intraday studies turn down, with prices currently balanced in cautious trade beneath congestion resistance at 178.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 180.00 | ** | congestion | S1 | 177.00 | * | congestion | |
| R3 | 179.00 | * | congestion | S2 | 176.00 | ** | congestion | |
| R2 | 178.45~ | 4 Nov high | S3 | 175.30 | ** | 38.2% ret of 2025-2026 rally | ||
| R1 | 178.00 | * | congestion | S4 | 175.00 | ** | congestion |
Asterisk denotes strength of level
14:10 GMT - Consolidation has met selling interest around 178.45/50, as intraday studies turn down, with prices currently balanced in cautious trade beneath congestion resistance at 178.00. Overbought daily stochastics are also turning down, suggesting potential for a drift lower towards congestion support at 177.00. But the positive daily Tension Indicator and improving weekly charts should limit any initial tests in fresh consolidation/range extension. A close beneath here, if seen, will add weight to sentiment and put focus on critical support within the 175.30 - 176.00 range.
Meanwhile, a close above 178.00 will help to improve sentiment and extend late-October gains towards further congestion around 179.00. However, already overbought daily stochastics could limit any tests in renewed selling interest.