Chart EUR/JPY Update: Choppy at multi-year highs
Little change, as prices extend choppy trade beneath resistance at the 184.90~ fresh multi-year high and 185.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 187.60 | ** | August 1990 high | S1 | 183.00 | * | break level | |
| R3 | 187.35 | ** | 50% ret of 1979-2000 fall | S2 | 182.00 | * | break level | |
| R2 | 186.00 | * | figure | S3 | 181.00 | ** | congestion | |
| R1 | 185.00 | * | figure | S4 | 180.00 | ** | historic congestion |
Asterisk denotes strength of level
14:55 GMT - Little change, as prices extend choppy trade beneath resistance at the 184.90~ fresh multi-year high and 185.00. Daily stochastics are rising, highlighting room for a retest. But the deteriorating daily Tension Indicator and mixed/negative weekly charts are expected to limit any immediate tests in consolidation. A close above 185.00, however, will turn sentiment positive and extend long-term gains towards the 187.35 historic Fibonacci retracement and the 187.60 high of August 1990. Meanwhile, support remains at 183.00 and extends to 182.00. This range should underpin any immediate setbacks.