EUR/JPY launched upward from 117.80 support level. The pair erased all of the losses incurred in the previous week and might continue upside this week. At the current time, there is no bullish follow-through by the bull yet. The pair slightly lower to look for support to continue its upward movement.
Traders will wait for further confirmation before turning more bullish on the pair.
Resistance: 120.00, 121.00
EUR/GBP turned lower after the rejection from 0.9300 resistance slowly gain momentum. The pair might target the top of the channel on its downward movement. Traders could prepare for long positions near the top of the channel or when the pair enter the channel and tested the bottom of it. On the long-term outlook, EUR/GBP might breakout above 0.9300 and continue its uptrend.
today critical levels to watch:
Support: 0.9200, 0.9000
GBP/JPY closed above 128.20 and return inside 128.20 – 130.00 range. The pair might move further upside in the coming days and target 130.00. Even though it looks bullish, traders might want to refrain from entering long positions as the overall trend is bearish.
Today Critical level to watch:
Support: 128.20, 127.00, 125.00
Resistance: 130.00, 132,00
GBP/CHF provides us no clue on the next direction yet. The pair might consolidate near current level until it hit the bearish channel on the chart. After the consolidation, it is possible the pair will continue its bearish trend.
Today critical levels to watch:
Resistance: 1.2000, 1.2300