EUR/JPY

EUR/JPY launched upward from the 120.00 – 120.30 area and closed the day significantly higher. The pair is set to target the 121.50 resistance level and attempting to move higher toward the 123.30 and 125.00. Traders who have long positions could continue to hold the positions while waiting for a reaction near 121.50.

On the other hand, traders could consider entering short positions near 121.50 when there is a major bearish reaction.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30

EUR/GBP

EUR/GBP on the path higher without much resistance to hold it back. The pair has 0.9300 as an upward target and traders will avoid taking short positions at the current level. It is better to stay sideline for now while waiting for a major reaction in the pair.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

GBP/JPY stick near the 132.50 support level yesterday. No conclusion yet on the next direction of the pair. It could either bounce from the 132.50 and continue moving upward to target 135.00 – 136.00 or continue the bearish movement toward 130.00.

Today Critical level to watch:

Support: 130.00

Resistance: 132.50, 133.00, 135.00, 136.00

GBP/CHF

GBP/CHF continues its bearish movement initially yesterday. However, the pair reversed and closed the day on the positive side. If the pair could reach the horizontal level shown on the daily chart, traders could consider entering short positions.

Today critical levels to watch:

Support: 1.1500

Resistance: 1.1700, 1.1867