EUR/JPY

EUR/JPY continued the free fall and reached the 154.00 – 155.00 area. There is no strong bullish sign except for a bounce from the area. At the current time, traders will continue to assume that the pair will continue the bearish movement. It is better to wait for a bullish bounce toward the resistance level for a chance to enter short positions. The long-term trend has changed which means it is better to stay away from long positions.

Today’s critical levels to watch:

Support: 171.51, 170.00

Resistance: 176.66

EUR/GBP

EUR/GBP launched upward and cleared the 0.8500 – 0.8530 resistance area. The pair immediately reach the 0.8580 – 0.8600 area and attempt to break out above it. The pair might continue the current bullish movement with or without a bearish correction. If the pair starts a bearish correction, traders could wait near 0.8500 – 0.8530 for a chance to enter long positions.

Today’s critical levels to watch:

Support: 0.8530, 0.8500, 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY follows the EUR/JPY movement to the bottom. There are no bullish reactions as the pair approaches the previous low of the bullish leg. It is only a matter of time before the pair tests the level and breaks below it. As the market is in a panic situation, it is better to stay sideline and observe what will happen next. If the pair start a bullish correction then traders could wait near the latest Fibonacci Retracement levels for a chance to enter short positions.

Today’s Critical level to watch:

Support: 193.50, 190.00

Resistance: 198.00, 200.00, 200.50, 208.86

GBP/CHF

GBP/CHF was mostly lower, continuing the bearish trend after failure to breakout above the green box area. The pair has printed a new lower swing low and lower swing high which means the medium-long term trend is bearish. If the pair starts a bullish correction then 1.1200 – 1.1225 is the area to watch for bearish reactions and a chance to enter short positions.

Today’s critical levels to watch:

Support: 1.1225, 1.1200

Resistance: 1.1360, 1.1530, 1.1600, 1.1750