EUR/JPY
EUR/JPY resumes the bullish movement after a new higher high. The pair will continue the upward movement to target the 148.50 – 151.50 resistance level. At the current time, traders who have long positions will continue to hold the positions or wait for a bearish pullback to enter more long positions. On the lower side, a new higher low might be printed around 144.50 – 145.00 when a bearish correction happens.
Traders will monitor the market reactions today after the release of U.S. inflation data.
Today’s critical levels to watch:
Support: 142.75, 140.50, 137.40, 135.00
Resistance: 145.00, 148.50, 151.50
EUR/GBP
EUR/GBP building bullish pressure away from the 0.8750 support level. The pair will attempt to continue moving upward and print a new higher high to reverse the current bearish trend. On the upside, 0.8900 and 0.9000 will become targets to watch. As long as there is no lower low printed on the chart, the pair could try to resume the bullish trend.
Today’s critical levels to watch:
Support: 0.8750, 0.8700, 0.8600, 0.8580
Resistance: 0.8900, 0.9000
GBP/JPY
GBP/JPY trading upward and set to break out above the previous week’s high. The trend might have turned bullish again and traders who have long positions will hold it now. If the pair start a bearish correction then traders will use the moment to enter long positions. As long as there is no lower low, the trend will continue bullish.
Today’s Critical level to watch:
Support: 164.00, 161.00, 160.00, 156.58, 153.50
Resistance: 168.50, 170.00
GBP/CHF
GBP/CHF pushed lower and now moving near the 1.1200 support level. Will the pair breakout lower and continue to print a new lower low on the chart? Alternatively, will the pair stay between the 1.1200 level and the trendline to continue the consolidation?
No confirmation yet on the pair direction. If the pair stays inside the 1.1200 and the trendline range then the consolidation will continue.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750