EUR/JPY

EUR/JPY set to continue its downward movement as lower low printed today. We think there is a high chance the pair will reach 117.80 support level in the current bearish leg. However, if the pair manages to close above 119.20 then the short-term trend may turn bullish.

Today critical levels to watch:

Support: 117.80

Resistance: 119.20, 120.00, 120.30

EUR/GBP

Shorting at the current level is shorting the support level which has a high chance to fail. Moreover, the risk-reward ratio is not great. EUR/GBP continues to trade near the low and showing no clue on the next direction yet. If the pair continues lower then 0.8120 is the downward target. On the upside, traders could use 0.8400 as the level to take short positions.

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8600

GBP/JPY

GBP/JPY turn lower today but manage to find support at 142.50 and currently the pair traded near its opening level. Even though the situation bullish, we are not enthusiastic about the situation as GBP/JPY “always” returns to 142.50 despite the momentum movement away from the level. Traders might want to continuously monitor the pair for now and waiting for major momentum movement away from 142.50.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

The correction toward 1.2700 only short-lived and GBP/CHF currently higher above its opening level. We project the pair will reach 1.2900 resistance next. Traders who want to enter long positions could place a stop order below 1.2700.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2900, 1.3000