EUR/JPY

EUR/JPY sideways situation will continue for now until the pair breakout from the triangle pattern. There is nothing to do for now aside from waiting. If the pair breakout lower, then there is potential of weakness toward the 154.00 – 155.00 area. Meanwhile, breakout higher will have 164.86 and 167.348 as upward targets.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP is supported by the 0.8525 level and currently trading between 0.8525 – 0.8600 area. We favor bullish breakout and continuation to test 0.8700 – 0.8750 area. However, if bearish breakout happen, then the pair will target 0.8400 – 0.8435 area. Traders could use the 0.8525 – 0.8600 area to apply range trading strategies. Or, traders could wait until breakout happen before placing positions.

Today’s critical levels to watch:

Support: 0.8530, 0.8500

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY breakout higher above the triangle pattern, which mean the pair will resume trading between two trend lines or 188.00 – 193.50 area. Traders who enter long positions will place stop order below 187.40 or 184.35. On the upside, 190.00, 190.77 and 193.50 – 194.00 area will become the bullish targets.

Today’s Critical level to watch:

Support: 188.00

Resistance: 190.00, 193.50, 195.00

GBP/CHF

GBP/CHF aggressively higher and on the path toward 1.1060 – 1.1100 area. As mentioned before, we expect a test on the area and formation of bearish pattern. If the pair formed a bearish pattern, traders could enter short positions targeting 1.0800 and new lower swing low.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200,