EUR/JPY
EUR/JPY bearish pressure looks subsiding and the pair make a bounce reaction today. The bounce reaction happens inside the 154.00 – 155.00 area. If the pair continue the bearish movement then it will target the 148.50 – 151.50 area where traders could add long positions. A close above 155.00 could become a confirmation of bullish movement to target a new higher high. As long as the pair continue printing a new higher high and higher low, traders will continue to hold long positions.
Today’s critical levels to watch:
Support: 154.00, 151.50, 148.50
Resistance: 155.00, 160.00, 162.87, 171.00
EUR/GBP
EUR/GBP is slightly higher and trading not far from the 0.8580 – 0.8600 area. Traders will observe closely the pair reactions near the area. If the pair get rejected and resume the bearish movement then it will target a new lower low. A close above 0.8600 could hinder the bearish scenario and the pair could make an attempt to print a new higher high.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY is heading toward the 178.50 support level yesterday. However, the pair make a bullish movement today and will attempt to close above the previous day’s high. A close above 182.45 will confirm the bullish continuation of the pair. Traders will continue waiting for the pair to make a bearish correction to add more long positions near the support levels.
Today’s Critical level to watch:
Support: 178.50, 172.00, 170.00, 168.50
Resistance: 182.45
GBP/CHF
GBP/CHF fell sharply yesterday and bring the pair back to its path toward 1.1200. There is a bearish attempt today but the pair manage to recover to its opening level. If the pair continue trading lower then traders will wait near the 1.1200 support level for bullish reactions. When there is bullish reactions, traders could enter more long positions. On the upside, 1.1530 – 1.1600 area is the target to watch.
Today’s critical levels to watch:
Support: 1.1200, 1.0500, 1.0000
Resistance: 1.1530, 1.1600, 1.1750