EUR/JPY

EUR/JPY building base around 134.50 – 135.00 area. The pair is waiting for further bullish pressure to continue the bullish trend. However, if the pair continues moving lower then traders could use the 133.50 and 131.50 – 132.00 area for a chance to enter long positions. Today, there is the release of the FOMC minutes of the meeting. The event might trigger volatility in the market which moves EUR/JPY price.

Today’s critical levels to watch:

Support: 135.00, 134.50, 133.50, 132.00, 131.50

Resistance: 137.00

EUR/GBP

EUR/GBP pushed lower toward the 0.8325 support level. There is a bullish reaction from the support level today which means a bounce might happen. A bounce from the current level will print a higher swing low for the pair. We think the trend has switched from bearish to bullish and traders could use the chance to enter long positions.

Today’s critical levels to watch:

Support: 0.8325, 0.8100

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY made a bearish correction but the pair did not reach the 158.15 and 156.58 support levels. It starts moving upward again and will attempt to print a new higher high. Under the current situation, traders who have long positions will continue to hold them while waiting for a bearish correction to add more long positions.

Today Critical level to watch:

Support: 158.15, 156.58

Resistance: 160.00

GBP/CHF

GBP/CHF printed a lower low but not enough bearish pressure to continue the bearish trend. The pair currently moving upward and might form a double bottom pattern. A movement above the previous swing high 1.2416 will confirm the double bottom pattern and switch the trend from bearish to bullish.

Today’s critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2500, 1.2600, 1.2700