EUR/JPY

EUR/JPY launch upward with strong bullish momentum today which confirms the continuation of the bullish trend. There is no reason for traders to enter short positions until the pair reaches a resistance level and form a major bearish reaction. On the lower side, 134.50 – 135.00 is the area to watch for long positions when the bearish correction happens.

Today’s critical levels to watch:

Support: 135.00, 134.50, 133.50, 132.00, 131.50

Resistance: 137.00

EUR/GBP

EUR/GBP is under threat of bearish correction as the pair fell and formed a lower swing low. At the current time, the pair trading slightly upward and might test the 0.8325 level. Traders will monitor the pair reaction near the level. If the pair get rejected with strong bearish momentum then traders could prepare short positions.

Today’s critical levels to watch:

Support: 0.8100

Resistance: 0.8325, 0.8400, 0.8500

GBP/JPY

GBP/JPY continues moving upward and showing no weakness yet. The pair might be ready for a bearish correction but traders better avoid shorting as the pair could just continue moving upward without stopping. If a bearish correction happens then traders could use support levels to enter long positions when bearish pressure recedes.

Today Critical level to watch:

Support: 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF attempting to bounce from the 1.2300 level to continue moving upward. As mentioned in the previous analysis, the pair need to move above 1.2416 to confirm trend reversal. Without a movement above the level, the pair could reverse the current bullish pressure and start moving lower again at any time.

Today’s critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2500, 1.2600, 1.2700