EUR/JPY

EUR/JPY bounced upward and will target the Fibonacci Retracement levels. Traders will use the current upward movement as a chance to enter short positions. It is better to avoid long positions as the overall trend is bearish. However, if traders decide to enter long positions it is a high speculative position.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00

EUR/GBP

EUR/GBP is mostly higher above the 0.8580 – 0.8600 area. The pair might breakout and continue the bullish trend above the area. If the pair moves lower in a bearish correction then traders could use the 0.8580 – 0.8600 area and the 0.8500 – 0.8530 area as places to enter long positions.

Today’s critical levels to watch:

Support: 0.8530, 0.8500, 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY showing bullish reactions and might attempt to move upward to test the 188.50 and 193.50 resistance levels. If the pair gets rejected from the resistance levels then traders could enter short positions targeting a new lower low on the chart. A close below 178.70 will further confirm a bearish continuation.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF was mostly higher yesterday and tested the 1.1000 resistance level. The pair might attempt to extend the bullish movement toward 1.1200 – 1.1225 area where traders will wait for bearish reactions. When there is bearish reactions, traders could enter short positions targeting a new lower low.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225