EUR/JPY

EUR/JPY reached the 131.50 – 132.00 target area and there is a bearish reaction today. The pair is testing the 131.50 level and might close below it. If a bearish close happens then EUR/JPY might start a correction toward the nearest box area shown on the chart.

Traders could plan long positions near the box area when a bearish correction happens.

Today critical levels to watch:

Support: 131.50, 130.00

Resistance: 132.00

EUR/GBP

EUR/GBP trading sideways near the 0.8700 resistance level. The pair seems to consolidate before the next major movement. We think the pair will attempt to break out higher above the 0.8750 resistance level and continue its bullish trend.

today critical levels to watch:

Support: 0.8600, 0.8500, 0.8400

Resistance: 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY extended its bullish close yesterday and getting further away from the 150.00 support level. The pair expected to continue the bullish trend toward 153.50 and higher. However, if the pair closed lower today then a bearish correction might happen where traders could add more long positions near 150.00.

Today Critical level to watch:

Support: 150.00, 147.50, 145.00

Resistance: 152.00, 153.50, 156.58

GBP/CHF

The bear seems gaining upper hand against the bull and to pressure GBP/CHF lower today. The pair seems will erase all of the gains incurred in March and start another bearish move in May. Under the current situation, traders who enter long positions will place stop orders below the previous swing low or the previous month’s low.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2800, 1.2900