EUR/JPY

EUR/JPY is trading upward into the Fibonacci Retracement area. Traders will wait for the pair to make a bearish reaction inside the area for a chance to enter short positions. As the overall trend of the pair has turned bearish, it is better to stick with short positions. Long positions only when traders want to do high speculative trade. On the lower side, 154.00 – 155.00 is the major support area to watch.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00

EUR/GBP

EUR/GBP return to the 0.8580 – 0.8600 area after the bounce from 0.8530. The pair’s bullish trend seems will continue as a breakout above 0.8600 is imminent. However, if the pair loses the upward momentum and gets rejected again without printing a new higher swing high 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 trade near 188.50 and will attempt to extend the bullish movement toward 190.00, 193.50, and 198.00. The pair’s long-term trend has turned bearish and a bearish rejection from the current area will confirm a bearish continuation. Traders will wait for the bearish reactions for a chance to enter short positions targeting a new lower swing low.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF is on the verge of continuing the bullish movement toward the 1.1200 – 1.1225 area. Traders will wait for bearish reactions near the area for a chance to enter short positions. The pair might overshoot to the upside as traders are placing stop orders above the area. It is better to wait until a bearish reversal happens before entering positions.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225