EUR/JPY

EUR/JPY closed above the 140.50 level with strong bullish momentum. The pair keep building bullish pressure and is set to continue the bullish trend. If the pair make a bearish correction then traders could enter long positions near 140.50. However, there is an ECB meeting that will decide the interest rate this week. Traders will monitor the market reactions after the ECB event to determine the next direction of the Euro.

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 return above the 0.8500 level which opens the upward path toward the 0.8580 – 0.8600 area. If the pair make a major bearish close back below 0.8500 then the trend could turn bearish. At the current time, traders who have long positions from a level near 0.8400 could continue to hold the positions.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600, 0.8700

GBP/JPY

GBP/JPY is on the path upward to target a new higher high. The pair need to print the higher high to confirm the continuation of the bullish trend. At the current time, the nearest support level is 164.00. If a bearish correction happens then traders could consider entering long positions near the 164.00 support level.

Today Critical level to watch:

Support: 164.00, 161.00

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF has not left the 1.1600 – 1.1750 range. The pair might be under bearish pressure most of the time, but no major breakout below 1.1600. Despite the situation, traders will prepare for a bearish breakout as the high keeps getting lower after each bounce.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125