EUR/JPY
EUR/JPY edged slightly higher today in what appears to be a bullish correction move. However, there is no higher swing high yet, as the pair continues to trade firmly inside the previous bearish candlestick’s range. We will continue waiting on the sidelines until this bullish correction or consolidation phase is fully completed before looking to add short positions.
Today’s critical levels to watch:
Support: 178.00
Resistance: 180.00, 183.40, 185.84, 190.00
EUR/GBP
EUR/GBP pair made a bullish attempt today but experienced rejection near the 0.8580 level. The market is now at a decision point: will the pair continue lower to target the 0.8525 support, or will it gather momentum to climb again and retest the 0.8600 – 0.8620 resistance zone? We maintain bearish outlook on the pair and will continue monitor the chance to add short positions.
Today’s critical levels to watch:
Support: 0.8525, 0.8500
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY traded slightly higher today, nearing a previously broken swing low. A retest of this level could happen soon, and we may see a possible upward attempt above it before the momentum turns lower again. We maintain a bearish overall view on the pair and will wait for an optimal chance to enter short positions.
Today’s critical level to watch:
Support: 208.00, 205.00
Resistance: 210.00, 211.50, 214.965, 218.00
GBP/CHF
GBP/CHF initially pushed lower but has since recovered to trade above its opening level. Overall, the pair continues to maintain its position near recent highs and looks poised to test the 1.1060 – 1.1100 resistance area in the near term. As long as there is no new lower swing low, traders will continue maintain bullish outlook on the pair.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.1060, 1.1100