EUR/JPY
EUR/JPY is trading upward again today and is near the previous day’s high. The pair might attempt to extend the bullish trend and target a new higher swing high on the chart. Despite the situation, the pair movement continued within the bearish candlestick range and might indicate a sideway situation. Traders will wait for either a movement above the previous swing high or a downward movement toward the Fibonacci Retracement levels.
Today’s critical levels to watch:
Support: 167.14, 165.81, 163.00, 162.00, 160.00
Resistance: 170.00, 171.51
EUR/GBP
EUR/GBP bearish movement halted today and the pair looks to attempt to erase the losses incurred yesterday. If the pair could close near the previous day’s opening level then there is a chance of upward movement to target 0.8500. On the other hand, if the bearish movement continues then 0.8400 is the bearish target to watch. As the trend is bearish, traders will wait for a bullish pullback toward the resistance level for a chance to enter short positions.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY tested the previous swing high and printed a new higher swing high. However, the upward movement has no strong momentum which means the situation could reverse anytime. Nevertheless, traders who have had long positions since the previous bearish test could continue to hold the positions now. When the pair start a bearish pullback, traders could consider entering long positions near support levels.
Today’s Critical level to watch:
Support: 198.00, 193.50, 190.00
Resistance: 200.00
GBP/CHF
GBP/CHF is trading upward inside the green box area and might reach the top of the range soon. Traders will observe the pair movement inside the green box area for now. When a breakout and close outside of the box area happen, traders could enter positions based on the breakout direction. Long positions are favored as there is no lower low printed on the chart.
Today’s critical levels to watch:
Support: 1.1360, 1.1225
Resistance: 1.1530, 1.1600, 1.1750