EUR/JPY

EUR/JPY bounced from the 170.00 level with strong bullish reactions. If formed a bullish engulfing pattern which confirm a bullish continuation. However, the pair need to immediately climb above the pattern to confirm the pattern. If the pair turn lower again, to erase all the losses, then it might turn lower to target the trend line.

Today’s critical levels to watch:

Support: 170.00, 166.50, 165.00, 163.00

Resistance: 173.00, 175.00

EUR/GBP

EUR/GBP bounced from the 0.8580 – 0.8600 area and start moving upward again. If there is no change to the situation, the pair could reach the 0.8700 – 0.8750 area to retest it. If the pair could continue the bullish movement and close above 0.8750 then the bullish trend could continue with 0.8920 target next.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY bullish gain yesterday immediately erased today. The pair back under bearish pressure at the 198.00 level. Traders will wait for the pair to breakout from the 198.00 – 200.00 area to confirm the next trend. When the pair closed outside the range with strong momentum, traders will get confirmation on the next direction.

Today’s Critical level to watch:

Support: 198.00, 195.00, 193.50, 190.00, 188.00

Resistance: 200.00

GBP/CHF

GBP/CHF bounced from the 1.0800 level and might resume the bearish movement to target 1.0609 and 1.04475. There is no bearish follow-through yet today, where the pair might trade sideways. As mentioned before, a close above 1.0800 might cancel the bearish outlook and start a new bullish correction. We maintain bearish outlook, but will stay cautious if the pair climb above 1.0800.

Today’s critical levels to watch:

Support: 1.0600, 1.0500

Resistance: 1.0800, 1.1000, 1.1200