EUR/JPY

EUR/JPY situation has not changed yet as the pair consolidating near the Fibonacci Retracement level. There is no new higher high or lower low on the chart which means the market is indecisive. No confirmation yet on where the pair will move next. Traders better continue waiting for more confirmation before jumping into positions. We still expect the pair to form a major bearish reaction to provide us a chance to enter short positions.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP slowly moved lower after the test on the 0.8400 level. The pair is on the path lower to retest the 0.8325 level. At the current time, the area 0.8325 – 0.8400 is maintained which means the pair will continue consolidation inside it. As the major trend is bearish, traders will continue to use the bullish chance as a chance to enter short positions. It is better to avoid long positions at least until the pair reach the previous swing low.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY situation is the same as EUR/JPY but we could see the pair’s low keeps getting higher while the high is the same. It could mean a bullish breakout might happen at the end of consolidation. If the pair attempts to continue the bullish movement toward 198.00 then traders will wait near the level for bearish reactions. When there are bearish reactions, traders could enter short positions.

Today’s Critical level to watch:

Support: 193.50, 190.00, 180.00, 178.70

Resistance: 195.00, 198.00, 200.00

GBP/CHF

GBP/CHF bounced from the 1.1200 – 1.1225 area and now returns inside the triangle pattern. The pair will continue the ranging movement for now and traders will wait for further confirmation. As mentioned before, the next higher swing high or lower swing low might confirm the pair’s next direction. At the current time, it is better to stay sideline.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400