EUR/JPY

EUR/JPY continues building bullish pressure to target the 140.50 resistance level. The pair has not shown any weakness yet now and soon will challenge the resistance level. A close above 140.50 and a new higher high will confirm a bullish continuation. Traders will avoid taking short positions unless there are major bearish reactions from 140.50.

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 confirmed bullish continuation as the pair breakout above the 0.8580 – 0.8600 area. It formed a higher high and higher low which means the trend has switched from bearish to bullish now. If the pair start a bearish pullback then traders could use the 0.8580 – 0.8600 area for a chance to enter long positions.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8580

GBP/JPY

GBP/JPY ranging movement continues between 161.00 – 164.00. There is no change to the analysis yet which means traders better stay out of positions. Judging from the consolidation, we might have a bearish breakout below the level and continue toward 158.15. However, it is better to wait until the actual breakout and close below 161.00 happen to confirm the bearish movement.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

It might be the best way to stay sidelined in GBP/CHF. The pair currently consolidating before a further bearish push toward 1.1200. However, if the pair start an upward movement then traders will wait near 1.1530 and 1.1600 for a chance to enter short positions. Traders who have short positions might want to place a stop order above 1.1750.

Today’s critical levels to watch:

Support: 1.1200

Resistance: 1.1530, 1.1600, 1.1750