Published: 2025-08-08T01:13:30.000Z
Chart EUR/JPY Update: Still limited above the 172.00 level
Technical Analyst
1
Still limited above the 172.00 level but further pressure remains on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 174.50 | * | congestion | S1 | 170.00 | * | congestion | |
| R3 | 173.90/00 | ** | 28 Jul YTD high, congestion | S2 | 169.72 | * | 31 Jul low | |
| R2 | 173.00 | * | congestion | S3 | 168.45 | * | 1 Jul low | |
| R1 | 172.00 | * | congestion | S4 | 168.00 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Still limited above the 172.00 level but further pressure remains on the upside and clearance here will see room for extension to the 172.50 intraday congestion then the 173.00 level. However, gains are seen corrective and expected to give way to renewed selling pressure later to extend rejection from the 173.90 high. Meanwhile, support remains at the 171.00 level and break here will return focus to the downside for retest of 170.00/169.72 support. Below here will open up room for deeper pullback to retrace the strong May/July rally.