Published: 2025-09-18T13:43:03.000Z
Chart EUR/JPY Update: Fresh year highs - approaching critical resistance
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Cautious trade has given way to a sharp break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 177.00 | historic congestion | S1 | 173.90 | * | 28 Jul (m) high | ||
| R3 | 176.00 | historic congestion | S2 | 173.00 | * | congestion | ||
| R2 | 175.40 | ** | July 2024 (y) high | S3 | 172.00 | * | break level | |
| R1 | 175.00 | ** | figure | S4 | 171.00 | ** | range lows |
Asterisk denotes strength of level
14:30 BST - Cautious trade has given way to a sharp break higher, with prices posting a fresh year high around 174.45 before drifting lower. Daily readings have ticked higher, highlighting room for continuation of August 2024 gains towards 175.00. But already overbought daily stochastics and mixed weekly charts are expected to limit any initial break in profit-taking towards critical multi-year resistance at the 175.40 year high of July 2024. Meanwhile, support is raised to the 173.90 monthly high of 28 July. A close beneath here would turn sentiment neutral and prompt consolidation above congestion around 173.00.