EUR/JPY
EUR/JPY bullish movement continues today after yesterday’s bullish close. However, the bullish pressure experienced rejection, and currently, EUR/JPY is trading below the opening level. Despite the situation, EUR/JPY maintained above 163.662. If the pair could bounce upward and print a new higher high then the bullish movement could continue. On the lower side, if the pair manages to print a new lower low then the bearish movement will target the cluster of the Fibonacci Retracement level.
Today’s critical levels to watch:
Support: 160.00, 155.00, 154.00, 151.50, 148.50
Resistance: 162.00, 163.00
EUR/GBP
EUR/GBP continues testing the 0.8580 – 0.8600 area but no breakout yet. The pair situation will continue waiting for further reactions from the area. If the pair gets rejected and starts trading lower again then traders will expect a movement toward the bottom of the green box area. However, if the pair could break out above the 0.8580 – 0.8600 area then the bullish movement could continue.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY slightly lower today after the previous day’s bullish close. The pair erase half of the gain and will attempt to stabilize before the next movement. Will the pair continue trading upward and print a new higher high? Alternatively, will it turn lower and target the 188.50 support level again? Traders will wait for a bearish correction in the pair to enter more long positions at a lower level.
Today’s Critical level to watch:
Support: 188.50, 186.00, 184.00, 182.45, 178.50
Resistance: 190.00
GBP/CHF
GBP/CHF continued moving bullishly today and printed a new higher high. However, the pair experienced bearish pressure and erased all of the gain today. It seems the pair will close the day with a bearish pin bar pattern. If the pair continue moving lower and close below the trendline then traders will expect a bearish correction targeting the 1.1200 level. No conclusion yet for the next movement, it is better to wait for reactions near the trendline. At the current time, the trend is bullish and without close below the trendline, the trend will continue the same.
Today’s critical levels to watch:
Support: 1.1200, 1.1100
Resistance: 1.1530, 1.1600, 1.1750