EUR/JPY

EUR/JPY started a bearish correction where it will target 170.00 or the trend line. Traders will let the bearish correction play out and losing the steam. When the pair reach support level and show bounce reactions, traders could start entering long positions. Traders who enter a short position will place stop order above the latest swing high. Otherwise, it is better to stay flat for now as the long-term trend is bullish.

Today’s critical levels to watch:

Support: 170.00, 166.50, 165.00, 163.00

Resistance: 173.00, 175.00

EUR/GBP

EUR/GBP continue the bearish movement after the rejection from 0.8750 resistance level. The pair might extend the bearish movement to target 0.8580 – 0.8600 area. We expect the pair to find support level and resume the bullish movement to retest 0.8750. A breakout and close above the level will confirm bullish continuation.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY is testing the trend line and 198.00 level. The pair has not shown strong bounce reactions and will attempt to breakout lower. No confirmation yet for now, we could say the pair is inside the triangle pattern and between 198.00 – 200.00. Waiting until a breakout and close outside 198.00 – 200.00 area might be the best choice for now.

Today’s Critical level to watch:

Support: 198.00, 195.00, 193.50, 190.00, 188.00

Resistance: 200.00

GBP/CHF

GBP/CHF turning higher again toward the 1.0800 level. The pair might retest the level again, but we continue to maintain bearish outlook as long as the pair stay below 1.0800. If the pair breakout above 1.0800, then it might move up with strong momentum and reverse the current bearish trend. However, a fake breakout will become a major bearish confirmation.

Today’s critical levels to watch:

Support: 1.0600, 1.0500

Resistance: 1.0800, 1.1000, 1.1200