EUR/JPY

EUR/JPY hanging near the top and not far from the 140.50 resistance level. The pair is expected to continue the bullish trend with or without bearish correction. If the pair make a bearish correction then traders will observe the area between 137.25 – 137.40 for a chance to enter long positions.

Today’s critical levels to watch:

Support: 137.00, 135.00, 134.50

Resistance: 140.00, 140.50

EUR/GBP

EUR/GBP start a bullish correction and test the 0.8325 resistance level. The pair might get rejected and resume the bearish trend to target a new lower low. However, if the pair manages to start a rally then it needs to climb above 0.8400 to confirm further strength. No major conclusion yet but 0.8325 is the major level to watch for now.

Today’s critical levels to watch:

Support: 0.8100

Resistance: 0.8325, 0.8400, 0.8500

GBP/JPY

GBP/JPY is in a bullish trend similar to the EUR/JPY situation. The pair could start a bearish correction anytime and traders will prepare near support levels for a chance to enter long positions. Traders will continue to avoid shorting the pairs until a major bearish reaction happen.

Today Critical level to watch:

Support: 165.00, 160.00, 158.15, 156.58

Resistance: 170.00

GBP/CHF

GBP/CHF managed to close above 1.2300 and continue to build bullish pressure. The pair needs to climb above 1.2416 to confirm the double bottom pattern. We might see another bearish attempt at the 1.2300 level and traders could prepare long positions near it. Traders will place a stop order below the previous swing low and move up the stop order to near 1.2300 when a breakout above 1.2416 happens.

Today’s critical levels to watch:

Support: 1.2300, 1.2000

Resistance: 1.2416, 1.2500, 1.2600, 1.2700