EUR/JPY

EUR/JPY closed near the 137.40 support level and seems will stick near it for now. Traders are monitoring the release of U.S CPI data today. Next week, there will be ECB interest-rate decision and the Fed FOMC meeting the week forward. EUR/JPY might continue trading sideway or under bearish pressure nearing both central bank interest-rate decisions.

Traders will observe the pair reactions near support levels for a chance to enter long positions.

Today’s critical levels to watch:

Support: 137.40, 135.00, 134.50

Resistance: 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP touched the 0.8400 support level today and there is a bounce reaction. No conclusion yet on what will happen next. The pair might range between 0.8400 – 0.8500 and wait for the catalyst to move. We think the pair still has a chance to bounce and continue the upward movement to print a new higher high.

However, the pair needs to close above 0.8500 to confirm further upward movement.

Today’s critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8580, 0.8600, 0.8700

GBP/JPY

GBP/JPY currently trading between 161.00 – 164.00 area. The pair attempting to build more bullish pressure to break out higher. Traders will wait at the sideline for now until the actual breakout and close outside of the range happen. A ranging strategy with a bullish bias might be the best choice for now.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF trading inside the 1.1600 – 1.1750 area and will wait for a close outside of the range. The trend is bearish which suggests a bearish breakout is more likely to happen. However, if a bullish breakout happen then the pair might target 1.1870 and 1.2000 resistance level before turn lower again.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125