EUR/JPY
EUR/JPY made another bullish close yesterday and getting near to the previous swing high. However, the pair is currently under bearish pressure and might move lower to test the 154.00 – 155.00 area. Traders will prepare near the support area for bullish reactions to enter more long positions. When the pair could print a new higher swing high, the bullish trend will continue.
Today’s critical levels to watch:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00, 162.87, 171.00
EUR/GBP
EUR/GBP closed inside the 0.8580 – 0.8600 area yesterday. There is a bullish continuation in today’s trading session but the pair experience bearish reactions. If the pair moves lower with strong bearish momentum and close below 0.8580 then the bearish trend will continue. At the current time, we have a higher high in the previous bullish attempt. If the pair could print a higher swing low then the trend will continue bullish.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY closed above the 182.45 resistance level but without strong bullish momentum. The pair currently undergo bearish pressure near the resistance level but without strong momentum too. It seems the pair will continue trading sideway near the resistance level and traders better waiting for further confirmation. If the pair close below 182.45 at the end of the week then the consolidation between 178.50 – 182.45 will continue.
Today’s Critical level to watch:
Support: 178.50, 172.00, 170.00, 168.50
Resistance: 182.45
GBP/CHF
GBP/CHF building more bullish pressure and currently trading above 1.1200. There were two bullish attempts but no close above 1.1200 yet. If the pair failed to close above 1.1200 again then there is no bullish confirmation yet. We might see the pair continue consolidating with a bearish bias. It is better to stay sideline for now until there is major momentum movement away from 1.1200.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750