EUR/JPY
EUR/JPY slowly moving upward and will attempt to test the previous swing high. The pair trend has not changed yet from bullish to bearish. Traders will continue to assume the bullish trend will continue as long as now lower low and lower high are printed on the chart. It is better to avoid shorting the pair and continue to add long positions whenever a bearish correction happens.
Today’s critical levels to watch:
Support: 163.00, 162.00, 160.00
Resistance: 165.81, 167.14
EUR/GBP
EUR/GBP extends the bearish movement and currently has reached the lower part of the green box area. There are bullish reactions today but it might be a temporary reaction only. If the pair could trade upward then it will target the top of the green box area and the 0.8580 – 0.8600 area. However, if the pair extend the bearish movement and print a new lower swing low then the bearish trend could continue.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY building more bullish pressure and soon will test the previous swing high. The pair trend has not changed, the same as the EUR/JPY situation. At the current time, traders who have long positions from the previous support level will continue to hold the positions. A new higher swing high will confirm the continuation of the bullish trend. On the lower side, the pair needs to close below 190.00 to initially confirm a bearish reversal.
Today’s Critical level to watch:
Support: 190.00, 188.50, 186.00, 184.00
Resistance: 200.00
GBP/CHF
GBP/CHF bullish trend continues as the pair prints more higher swing high. There is no stop to the bullish pressure yet and traders will continue to use each bearish correction as a chance to add long positions. As the trend is bullish, shorting is a lower odds action compared to taking long positions when a bearish correction happens. On the upside, 1.1750 will become the next bullish target to watch.
Today’s critical levels to watch:
Support: 1.1600, 1.1530, 1.1225
Resistance: 1.1750