EUR/JPY

EUR/JPY pushed lower toward the 120.00 – 120.30 area. There is a bullish reaction today but it might be a short-term reaction only. Traders might want to consider the previous two bearish candlesticks that move with strong momentum. If the bull could not lift the pair with strong bullish momentum then EUR/JPY bound to continue its bearish movement below 120.00.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30, 125.00

EUR/GBP

EUR/GBP continue its consolidation inside the 0.8920 – 0.9000 area. The pair currently moving upward and set to test the 0.9000 resistance. We think the pair has better odds of breakout higher than making a bearish breakout. Traders will prepare to enter long positions when breakout and retest of the 0.9000 happen.

today critical levels to watch:

Support: 0.8920, 0.8862, 0.8750

Resistance: 0.9000

GBP/JPY

GBP/JPY extends its bearish movement after the rejection from 135.00 – 136.00 area. The pair expected to target the 132.50 support level and make a short-term bounce. We expect the pair to range between 132.50 – 136.00 after the test on 132.50 happens.

However, if the bearish momentum accelerates then traders will prepare for possible bearish movement toward 130.00.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 135.00, 136.00, 140.00

GBP/CHF

GBP/CHF rejected from the 1.2000 resistance level and manage to reach the 1.1870 support level today. The pair range expected to continue to span between 1.1870 – 1.2000 for now. It seems the pair has more chances to breakout lower at the current time.

Traders might want to limit the size of long positions taken at least until major bullish bounce happen.

Today critical levels to watch:

Support: 1.1867

Resistance: 1.2000, 1.2300, 1.2500