Published: 2026-11-02T14:34:25.000Z
Chart EUR/JPY Update: Smart bounce from fresh year lows
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Cautious trade around support at the 175.30 Fibonacci retracement has given way to a test lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 180.00 | ** | congestion | S1 | 176.00 | ** | congestion | |
| R3 | 179.00 | * | congestion | S2 | 175.30 | ** | 38.2% ret of 2025-2026 rally | |
| R2 | 178.00 | * | congestion | S3 | 175.00/05~ | * | congestion; 30 Oct YTD low | |
| R1 | 177.00 | * | congestion | S4 | 174.70 | ** | 6 Oct 25 low, gap high |
Asterisk denotes strength of level
14:20 GMT - Cautious trade around support at the 175.30 Fibonacci retracement has given way to a test lower, with prices posting a fresh year low around 175.05~ before bouncing sharply to currently pressure resistance at congestion around 177.00. Daily stochastics are rising and the daily Tension Indicator is showing signs of improvement, suggesting room for continuation beyond here towards further congestion around 178.00. However, mixed/negative weekly charts could limit any initial tests in fresh consolidation.
Meanwhile, support is raised to congestion around 176.00 and should underpin any immediate setbacks.