EUR/JPY

EUR/JPY dropped last week and started the week moving inside the bearish candlestick range. It might resume the bullish trend again or continue lower to retest the breakout point. We maintain bullish outlook for now and traders could use the broken swing high or the gap close level as a place to add long positions. On the lower side, a close below 172.2 will cancel the current bullish outlook.

Today’s critical levels to watch:

Support: 175.00, 173.00

Resistance: 178.285

EUR/GBP

EUR/GBP turn lower to retest the trend line again. The pair position is inside the triangle pattern and has a chance to resume the bullish trend. However, if the pair breakout and close below the trend line with strong momentum, then it might continue lower to target 0.8580 – 0.8600 area.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY stick near the 127.2% Fibonacci Extension level for now after last week drop. The pair might resume the bullish trend to target 208.07 level or turn lower to retest the broken swing high. If the pair turn lower and reach the broken swing high, then traders could wait for bullish reaction to add long positions. On the lower side, 198.00 is the invalidation level for the current bullish trend.

Today’s Critical level to watch:

Support: 200.00, 198.00, 195.00

Resistance: 205.00

GBP/CHF

GBP/CHF bounced from the 1.066 level again and trade at the middle of 1.066 – 1.0800 area. The pair direction is not confirmed yet for now and it might continue consolidation. We will wait for a close outside the range to confirm the pair next direction.

Today’s critical levels to watch:

Support: 1.0600, 1.0500

Resistance: 1.0800, 1.1000, 1.1200