EUR/JPY

EUR/JPY continues the bearish correction and soon will test the 134.50 – 135.00 area. If the pair breakout below the area then traders will wait at 133.50 and 131.50 – 132.00 for a chance to enter long positions. At the current time, the market is bracing for more weakness as China covid cases skyrocket and more lockdowns are implemented to combat the spread.

Today’s critical levels to watch:

Support: 135.00, 134.50

Resistance: 137.00, 140.00, 140.50

EUR/GBP

EUR/GBP managed to extend the bullish movement as the pair climbed above 0.8400. If there is no change to the situation then the pair will reach the 0.8500 resistance level soon. A close above the level will confirm a bullish continuation and a higher swing high.

Today’s critical levels to watch:

Support: 0.8400, 0.8325, 0.8100

Resistance: 0.8500

GBP/JPY

GBP/JPY is mostly bearish as the pair undergoes a bearish correction. As mentioned in the previous analysis, traders will wait near the 158.15 and 156.58 support levels for a chance to enter long positions when a major bullish reaction happens. Short positions are not suggested as the pair is currently in a bullish trend.

Today Critical level to watch:

Support: 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF managed to print a higher swing high but immediately lost a lot of ground. The pair have returned to the multi-months low. Under current bearish pressure, it seems a bearish breakout will happen and the pair continue its downward movement toward the 1.2000 support level.

Today’s critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2416, 1.2500