EUR/JPY

EUR/JPY situation looks sideways, it could continue lower to target the trend line. It also could move upward and target a new higher swing high. We maintain a bullish outlook on the pair and will use each bearish correction as a chance to add long positions. On the lower side, as long as the trend line hold out, no reason to turn extra bearish yet.

Today’s critical levels to watch:

Support: 170.00, 166.50, 165.00, 163.00

Resistance: 173.00, 175.00

EUR/GBP

EUR/GBP might be consolidating near the 0.8580 – 0.8600 area for now. The pair might break out and resume the downward movement to target 0.8500 – 0.8525 area. However, no confirmation yet for now for the next movement. If the pair start moving upward again, then it might also target the current top of range 0.8750. Traders who want to speculate, could enter long positions with stop below 0.8580.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY slightly lower as it could not continue the bullish movement to breakout above 200.00. The current range span between 198.00 – 200.00 and a close outside the range might confirm the next direction. We still expect bullish breakout above 200.00 but consider a retest on 198.00.

Today’s Critical level to watch:

Support: 198.00, 195.00, 193.50, 190.00, 188.00

Resistance: 200.00

GBP/CHF

GBP/CHF has upside target at 1.1060 – 1.1100, but it might turn lower at the current level. If the pair start moving lower, then the 1.0800 is the support level to watch. As we mentioned before, traders could use the 1.0800 level as a place to enter long positions when there are bullish reactions. On the lower side, as long as there is no new lower swing low, the bullish movement could continue.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200