EUR/JPY

Broken correlation is everywhere, Euro moving higher while U.S dollar lower and Japanese Yen moving on the bull side. While the U.S dollar pushed lower by Yen, EUR manages to maintain its positions and avoid major selling. EUR/JPY currently holding out at 120.00 – 120.30 support area. It might continue to consolidate near the support area for now.

We think the bear still has higher odds to bring the pair lower.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50

EUR/GBP

EUR/GBP extended its bullish close and settle inside 0.8700 – 0.8750. Similar to the previous analysis, the pair trend might have switched from bearish to bullish. Maintaining bullish positions is the top priority. Traders will wait for a bearish correction to add more positions.

today critical levels to watch:

Support: 0.8700, 0.8600, 0.8500

Resistance: 0.8750

GBP/JPY

GBP/JPY closed further lower yesterday and the bearish pressure has not subsided today. The pair set to continue its bearish movement toward 136.00 support level. Traders who want to enter short positions might want to wait until bullish correction happens toward 140.00.

Today Critical level to watch:

Support: 136.00

Resistance: 140.00

GBP/CHF

GBP/CHF closed below 1.2300 and the pair has not shown any bullish sign. Keep holding short positions if traders have entered the positions. However, avoid taking short positions at the current level as it is shorting the support level. When the pair reached 1.2000, traders could consider scaling out or moving stop level to break-event.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2500