EUR/JPY

EUR/JPY closed below 120.00 which is a confirmation that the pair will move further lower toward 119.20. No bullish confirmation, traders might want to avoid long positions for now. Traders who have short positions could continue to hold the positions while monitoring the pair reaction near 120.00 – 120.30.

Today critical levels to watch:

Support: 119.20

Resistance: 120.00, 120.30, 121.50

EUR/GBP

EUR/GBP breakout and closed above 0.9000. The pair continues the upward movement today but stuck near May high. If the pair could breakout and close above the May high then we will expect continuation toward 0.9300. Traders could enter long positions near 0.9000 if the pair makes a bearish correction.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

GBP/JPY bearish pressure continues and currently testing the 132.50 support level. It seems the support level giving way and the pair might close lower below the previous day low. Without a bullish reaction, it is better to avoid long positions for now. If GBP/JPY continues its bearish movement then 130.00 and 128.00 will become the target.

Today Critical level to watch:

Support: 132.50, 130.00

Resistance: 133.00, 135.00, 136.00, 140.00

GBP/CHF

The bull is in trouble as GBP/CHF closed below 1.1870 yesterday. There is bearish follow-through today and soon the pair will test the previous month low. A breakout below the previous month low is the long-term bearish confirmation which might lead GBP/CHF down to 1.1200 again.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867, 1.2000, 1.2300