EUR/JPY

EUR/JPY trading upward for four days but the bullish movement was erased by one bearish move today. The pair might start a new bearish leg targeting the 154.00 – 155.00 area and traders will wait near it. If the pair reach the support area and form a bullish reaction then traders could consider entering long positions. At the current time, it is better to avoid shorting the pair as the overall trend has not changed yet from bullish to bearish.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00, 162.87, 171.00

EUR/GBP

EUR/GBP extended the bullish movement and reached the level near 0.8700 today. The pair might continue the bullish movement and close above the resistance level to turn the trend bullish. At the current time, traders will wait for a bearish pullback toward the 0.8580 – 0.8600 area for a chance to enter long positions.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY breakout below the 182.45 level and is now set to continue the bearish movement toward the 178.50 support level. We might see the pair consolidate between the 178.50 – 182.45 area and will wait for a breakout and close outside of the area. Traders could consider entering long positions when there are bullish reactions inside the area. However, a close below 178.50 could become a major bearish confirmation.

Today’s Critical level to watch:

Support: 182.45, 178.50, 172.00, 170.00, 168.50

Resistance:

GBP/CHF

GBP/CHF closed below 1.1100 for the first time since last April. However, the pair immediately gained with strong bullish momentum today. Despite the situation, it seems the situation is choppy and we might see the pair moving wildly near the current level. Traders will wait for further confirmation to decide the pair next direction.

Today’s critical levels to watch:

Support: 1.1100, 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750