EUR/JPY

EUR/JPY continues the bullish correction and soon will reach the Fibonacci Retracement levels. Traders will wait for bearish reactions near the levels for a chance to enter short positions. As the trend has turned bearish, it is better to assume that the bearish trend will continue and avoid long positions for now. However, if the pair could print a new higher swing high then the trend might turn bullish again.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00

EUR/GBP

EUR/GBP bounced from the 0.8530 level and started moving upward again. The pair immediately return to the 0.8580 – 0.8600 area and will attempt to break out above it. A new higher swing high will confirm the continuation of the bullish trend. Meanwhile, if the pair turns lower again and falls below 0.8530 then there is a chance of a bearish reversal.

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 is stuck near the 188.50 level and currently consolidating. The pair might attempt to extend the upward movement to test 193.50 and 198.00 before turning lower again. Traders will wait for bearish reactions near the resistance levels for a chance to enter short positions. When there are major bearish reactions, traders will get confirmation.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF closed above the 1.1100 level and will attempt to continue the upward movement to test the 1.1200 – 1.1225 area. We think the pair will form a new lower swing high around 1.1200 – 1.1225. Traders could enter short positions near the area when there are bearish reactions. On the lower side, as long as the pair continues printing new lower-swing highs and lower-swing lows, the trend will continue bearish.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225