EUR/JPY

EUR/JPY is trading upward after consecutive bearish days. The pair might target the Fibonacci Retracement levels as shown on the chart where traders will wait for bearish reactions. When there is bearish reactions, traders could enter short positions targeting a new lower swing low. As the overall trend is bearish, traders better awaiting for chance to enter short positions. If traders decide to enter long positions then it will be a highly speculative position.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00

EUR/GBP

EUR/GBP closed above the 0.8580 resistance level which confirms further bullish continuation. The pair will use the 0.8530 – 0.8580 area as support levels to bounce from. If the pair starts a bearish correction then traders could use the area as a place to enter long positions when there is a bounce reaction. On the upside, the pair will target a 0.8700 resistance level.

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 showed a bullish reaction and traded upward to retest the 188.50, and 193.50 levels. The pair is in a bearish trend now and traders will use the upward correction as a chance to enter short positions. When there is bearish reactions near the Retracement levels, traders could enter short positions. On the lower side, the pair will target 170.00 and 168.50 in the long term.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF turned upward today and reached the 1.1000 level. The pair seems limited below the level right now but it might continue the upward movement to target the 1.1200 – 1.1225 area. Traders could use the current bullish correction as a chance to enter short positions. It is better to wait until the pair moves upward and print a bearish rejection before entering short positions.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225