EUR/JPY

EUR/JPY has not printed a new higher swing high though the pair continue to maintain the position near the top. There is no indication yet where the pair will move next. However, traders could continue to hold long positions with a stop below the previous swing low. As long as the pair keep printing new higher high and higher low, the trend will continue bullish.

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 is slightly higher above the 0.8580 – 0.8600 area and will attempt to extend the current bullish movement. In the previous bearish attempt, the pair did not print a new lower low which means there is a chance of a bullish reversal. When the pair form a new higher swing high, it is a confirmation of a long-term bullish reversal.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY is trading between the 178.50 – 182.45 area and will continue waiting for further development. A close outside of the area might confirm the pair’s next direction. At the current time, traders could use the range to do range trading until a breakout happens. We think the next breakout might be bearish as BOJ starts to react on the interest-rate ground.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF make a bullish attempt this week but was limited below last Friday’s high. The pair trend is bearish and the current upward movement might be a temporary movement before a bearish continuation. If the pair could continue the climb and close above 1.1200 then there is chance of bullish reversal.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750