EUR/JPY

EUR/JPY breakout with strong bearish momentum to the downside and immediately reached our interest area of 154.00 – 155.00. The pair immediately bounced from the support area and currently trades back near the yellow box area. If the pair could further recover and close above the opening level then we might have a strong bullish confirmation. Traders who enter long positions near the 154.00 – 155.00 area will hold the positions with a stop near break-even.

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 keeps moving upward slowly and might retest the 0.8700 resistance level again. If the pair could close above the resistance level then we will have a bullish continuation confirmation. A bearish correction toward 0.8580 – 0.8600 is still possible and traders could use it for a chance to add more 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 fell with moderate bearish momentum and reached the 178.50 level. The pair then bounced from the support level and currently recovering toward the opening level. If the pair could continue to recover and close near the opening level then we will have a bullish pin bar pattern. Upward movement above the pattern will confirm a bullish continuation.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF made a bearish close yesterday and might continue the bearish movement to test the bottom-of-the-box area. However, the pair seems trading upward today and will attempt to reverse the bearish pressure. Nevertheless, the pair situation is ranging inside the yellow box area and traders could use the situation to apply a range trading strategy.

Today’s critical levels to watch:

Support: 1.1100, 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750