EUR/JPY
The EUR/JPY pair is trading slightly higher today, though upward momentum remains firmly limited near yesterday’s high. As the market continues to settle following the recent ECB event, the cross is struggling to maintain any significant bullish traction. We still expect a broader bearish continuation to unfold. The invalidation point for this bearish outlook is if the pair manages to climb and close above the recent bearish engulfing high.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
EUR/GBP attempted to bounce during today’s session but was once again pushed back to its opening level. The pair appears to be visibly losing upward pressure with each passing day, while the structural support low remains mostly the same. This persistent capping of rallies and flattening support strongly suggests that a definitive bearish breakdown will happen soon.
Today’s critical levels to watch:
Support: 0.8600, 0.8580
Resistance: 0.8700, 0.8750, 0.8800, 0.8850, 0.8920
GBP/JPY
The technical situation here is much the same as EUR/JPY. The pair made a notable bullish attempt today but faced heavily limited upside and could not sustain the momentum. The overall setup remains heavy, and traders are watching to see if this capped upside translates into a renewed push lower.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
After yesterday’s bearish close, GBP/CHF demonstrated remarkable resilience by immediately mounting a strong recovery today. This bullish price action has successfully erased all of yesterday’s losses. With momentum shifting firmly back in favor of the buyers, the pair is fundamentally set to continue its upward movement, directly targeting the 1.0800 level.
Today’s critical levels to watch:
Support: 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.0800