EUR/JPY
EUR/JPY made an overshoot bullish movement but experienced a bearish correction today. The pair retraced most of the gain and traded near yesterday’s opening level. We might see further bearish pressure in the pair and deeper bearish correction toward the 163.662 level. However, the current trend of the pair is bullish and traders will continue to avoid shorting the pair. It is better to wait for a chance to enter long positions near support levels.
Today’s critical levels to watch:
Support: 163.00, 162.00, 160.00
Resistance: 165.81, 167.14
EUR/GBP
EUR/GBP failed to maintain the bullish pressure and fell with bearish consecutive movement. If the pair continue the bearish movement then we might see a new lower low on the chart soon. At the current time, it is better to wait sideline and observe the pair movement near the previous swing low. If the pair could reverse the bearish pressure and print a new higher high then the trend will continue bullish.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY made a bearish movement and tested the previous broken resistance level. The pair show bullish bounce reactions but it might start moving lower again in the coming days. Nevertheless, traders will wait near the support level for a chance to enter long positions when there are bullish reactions. However, if the pair manages to print a new lower swing low then the trend will turn bearish.
Today’s Critical level to watch:
Support: 188.50, 186.00, 184.00, 182.45, 178.50
Resistance: 190.00
GBP/CHF
GBP/CHF is mostly bullish as it continues the upward movement after the bullish bounce. The pair will attempt to extend the bullish movement and print a new higher high. On the upside, 1.1530 – 1.1600 will become the target area to watch. On the lower side, a new lower low will cancel the current bullish outlook and might bring the pair back to bearish trend.
Today’s critical levels to watch:
Support: 1.1200, 1.1100
Resistance: 1.1530, 1.1600, 1.1750