EUR/JPY

EUR/JPY closed near the 134.50 resistance level yesterday. The pair show weakness today and might start a bearish correction. If the pair make a bearish correction then traders will wait near the 133.50 and 131.50 – 132.00 area for a chance to enter long positions. A short position is not suggested as the pair is in a bullish trend.

Today critical levels to watch:

Support: 133.50, 132.00, 131.50

Resistance: 134.50, 135.00

EUR/GBP

EUR/GBP could not lift itself above the bearish trendline. The pair seems to get rejected and might close the day as a bearish pin bar pattern. If the pair breakout is lower next week then traders will expect a continuation of the bearish trend to target 0.8120 and 0.8000.

today critical levels to watch:

Support: 0.8325, 0.8100

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY trend expected to continue bullish as the pair has climbed above 156.58 and the previous year’s high. A bearish correction might happen toward the 158.15 level and traders could use the moment to enter long positions on bullish reaction. As long as there is no lower low printed on the chart, there is no reason to enter short positions.

Today Critical level to watch:

Support: 156.58

Resistance: 160.00

GBP/CHF

GBP/CHF pushed lower today but managed to regain the losses. At the current time, the pair is trading above the opening level and will attempt to add more bullish pressure. If the pair continues the upward movement next week then traders will expect a bullish continuation above the 1.2300 with 1.2500 as the target.

Today critical levels to watch:

Support: 1.2300, 1.2000

Resistance: 1.2500, 1.2600, 1.2700