EUR/JPY

EUR/JPY bullish correction looks waning and might resume the bearish trend. However, there is more room upward to reach the Fibonacci Retracement levels. If the pair manage to reach the Retracement levels and form bearish reactions then traders could add to short positions. However, if the pair manages to continue the bullish movement and print a new higher swing high then the trend will turn bullish.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00, 165.00

EUR/GBP

EUR/GBP has reached the 0.8325 support level with strong bearish momentum. The pair is in a clear bearish trend but a bullish correction might happen. If the pair start moving upward then 0.8400 is the major resistance level to watch. When the pair form bearish rejection from the level, traders could add short positions.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY extends the bullish movement today inside the Fibonacci Retracement area. The pair shows bearish rejection from the 193.50 level also near the 50% Retracement level. If the pair immediately continue the bearish movement tomorrow then the bearish trend could resume. No confirmation yet for now, traders who want to enter short positions could place a hard stop level above 199.50 while taking into consideration that a close above 193.50 might be an initial bullish sign.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF extending the bullish movement toward the green box area. The pair is set to test the area and traders will observe the reactions. When the pair forms a major bearish reaction, traders could enter short positions targeting a new lower swing low. However, a close above the area will cancel the bearish outlook.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225