EUR/JPY

EUR/JPY closed above the 140.50 resistance level last week. There is a bullish continuation in today’s trading session but the pair mostly trading near Friday’s high. We think the bullish trend will continue and the pair will target the 148.50 – 151.50 area in the long term. If the pair start another bearish correction then traders could use 140.50 as the initial support level.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP start moving upward again but was limited at the 0.8580 – 0.8600 area. The pair continue printing higher high and higher low which means the bullish trend continues. As long as the pair stays above 0.8500 then there is no reason to turn bearish. If a bearish breakout happens below 0.8500 then traders could use the level as a resistance level to place short positions when a retest happens.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY resuming its bullish movement after the previous week’s bounce from the 161.00 support level. There is no bearish sign after the bounce and a new higher low is printed. Under the current situation, traders will assume the bullish trend will continue and 164.00 might become the next support level when a bearish correction happens.

Today Critical level to watch:

Support: 164.00, 161.00, 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF has broken below the 1.2000 level and now the pair continue moving lower. If the pair start a bullish correction then traders could wait near the 1.2000 level to place short positions when a retest happens. A movement above 1.2125 might become the bullish confirmation the bull needs to overturn the current bearish trend.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.2000, 1.2125