EUR/JPY

EUR/JPY could not print a weekly close above 137.40. The pair is currently under bearish pressure and might resume the bearish movement. At the current time, the pair range span between 133.50 – 137.40 with lower low and lower high printed. Traders could use 137.40 as a level to enter short positions with the expectation that the bearish trend will continue.

However, on the lower side, the 131.50 – 132.00 and 134.50 – 135.00 areas might become the potential area for a bullish reversal.

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 wicked to the upside and almost reach the 0.8500 resistance level. We have a bearish pin bar pattern which might become an initial indication of bearish continuation. No breakout below the candlestick pattern low yet. If the pair could climb and close above 0.8500 then it will cancel the bearish indication.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8580

GBP/JPY

GBP/JPY is trading under bearish pressure but no breakout from the 161.00 – 164.00 area yet. The pair might continue consolidating inside the range and traders will wait for further reactions. As long as the pair stays inside the range, traders could continue to apply range trading strategies.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF continues moving lower in a bearish trend and there is no bullish indication. The pair will continue moving lower to target the next support levels. Traders will wait until the pair reach a support level or start a bullish corrections movement. Long positions could be taken near the support level when there are major bullish reactions. On the upside, traders could enter short positions near the 1.1600 broken level.

Today’s critical levels to watch:

Support: 1.1200

Resistance: 1.1600, 1.1750