EUR/JPY

EUR/JPY formed a bullish pin bar close yesterday. There is a bullish continuation in today’s trading session but without strong momentum. The pair might stick near the 134.50 – 135.00 for now. Traders will wait for the release of U.S job data at the end of the week. A close above 137.40 might cancel the bearish outlook and bring the pair back on the bullish track.

Today’s critical levels to watch:

Support: 135.00, 134.50

Resistance: 137.40, 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP situation is bearish as the pair made another bearish close. A test on 0.8325 might happen soon and traders will monitor the reactions near the support level. We think a bearish breakout will happen and traders better stick with a bearish scenario for now until a new higher high is printed.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8580

GBP/JPY

GBP/JPY bounced from the 161.00 support level. The pair might continue upward to test the 164.00. We might see consolidation between 161.00 – 164.00 now. Traders will wait for a breakout and close outside of the range to confirm the next direction. The current short-term trend is bearish which suggests another test on 161.00 might happen again.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF is slightly higher but has not changed the sideways situation near the 1.1600 level. The pair range span between 1.1600 – 1.750 and traders better wait for close outside of the range to confirm the next direction. This week U.S job data might trigger some volatility in the pair.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125