EUR/JPY

EUR/JPY pushed lower yesterday but at the end of day, the pair recovered above the opening level. It seems there is a more bullish leg toward the 50%-61.8% Fibonacci Retracement levels. Traders will continue waiting near the resistance levels for a chance to enter short positions. On the lower side, we think the pair could target a new lower swing low to continue the bearish trend.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP has reached the 0.8500 – 0.8530 area and it might consolidate inside the area for now. Traders will observe the pair reactions inside the area, if the pair could bounce upward with strong bullish momentum then traders could enter long positions. We think the current area is the best place for bounce reactions to happen but traders might want to prepare for stop hunting below 0.8500 before the pair turns bullish.

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 pushed lower but managed to bounce from the 188.50 support level. The pair might attempt to continue the bullish correction toward 193.50 and 198.00. Traders could wait near both resistance levels for bearish reactions. When there are bearish reactions, traders could enter short positions targeting a new lower swing low on the chart.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF is consolidating near the 1.1200 – 1.1225 area. It means traders will continue waiting for now. As mentioned before, we expect a bearish reaction from the area and a chance to enter short positions. On the lower side, 1.1000 will become the support level to watch. In the long term, we think the pair could continue the bearish movement and print a new lower swing low.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225