EUR/JPY

EUR/JPY breakout higher and printed a new higher swing high. It seems the bullish trend will continue and there is no reason to turn bearish yet. Traders will continue to hold long positions for now and await for bearish correction. When the pair starts a bearish correction, the level around 170.00 – 171.00 might become the place to look for bullish reactions.

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 hanging at the middle of 0.8400 – 0.8500 and might continue trading sideways. If the pair continues the upward movement then traders will wait near the 0.8500 – 0.8530 area for bearish reactions. When there are bearish reactions, traders could enter short positions targeting a new lower swing low below 0.8400. A breakout and close above the green box area will cancel the bearish outlook.

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 continues the bullish movement without any bearish reactions yet. The pair might move upward as long as there is no major change from BOJ. Despite the situation, traders will stay cautious as the current level is the level not seen since 2008. On the lower side, 200.00 and 198.00 will act as major support levels when a bearish correction happens.

Today’s Critical level to watch:

Support: 200.00, 198.00, 193.50, 190.00

Resistance: –

GBP/CHF

GBP/CHF showed bearish reactions from the green box area yesterday. However, there is no bearish follow-through in today’s trading session. The pair might continue to stick near the green box area and traders will wait for further reactions. If the pair could continue moving lower below yesterday’s low then the bearish movement could continue. On the upside, a close above the green box area will turn the trend to bullish.

Today’s critical levels to watch:

Support: 1.1225, 1.1200

Resistance: 1.1360, 1.1530, 1.1600, 1.1750