EUR/JPY

EUR/JPY bounced from the 154.00 – 155.00 area and started moving upward. The pair might continue to target the Fibonacci Retracement levels where traders will wait for bearish reactions. When there is bearish reactions, traders could enter short positions targeting a new lower low on the daily chart. However, if the pair manages to trade upward and print a new higher swing high then the trend will turn bullish again.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00

EUR/GBP

EUR/GBP turned lower after the test on the 0.8580 – 0.8600 area. The pair might reach the 0.8500 – 0.8530 area where bullish reactions might happen. When there are bullish reactions from the area, traders could enter long positions targeting a new higher swing high. As the overall trend has turned bullish, it is better to stick with long positions for now.

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 traded upward and reached the 188.50 resistance level. The pair might extend the bullish movement to target the 193.50 resistance level next. If there are bearish reactions from the 188.50 or 193.50 resistance level, traders could enter short positions targeting a new lower swing low. On the upside, the pair needs to close above 200.00 to initially confirm a bullish trend reversal.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF is in a bullish correction phase as it moves upward to target the 1.1200 – 1.1225 area. Traders will wait near the area for bearish reactions. If the pair get rejected then traders could enter short positions targeting a new lower swing low. On the upside, the pair needs to print a higher swing high above 1.1650 to cancel the current bearish trend. We expect the pair to form a new lower swing high around 1.1200 – 1.1225.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225