EUR/JPY

EUR/JPY situation is mostly sideways without change compared to yesterday’s situation. The pair currently trading inside a triangle pattern and inside the 135.00 – 137.40 area. The pair might continue trading sideway and traders will wait for close outside of the range to confirm the next direction.

Today’s critical levels to watch:

Support: 135.00, 134.50

Resistance: 137.40, 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP printed a lower high and lower low. At the current time, the pair is trading inside the 0.8400 – 0.8500 area and will wait for closing out of the range. The next higher high or lower low will become a signal for the next direction. We think the bear has the upper hand and suggest traders stick with the bearish scenario.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8580

GBP/JPY

GBP/JPY trading sideways between 161.00 – 164.00. Similar to the latest strategy, traders could continue to apply range trading strategies and wait for close outside of the range to confirm the next direction. We still think the bull will make a bullish breakout but it is better to stay sidelined until the actual breakout happen.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF is slightly higher but on the bearish path toward 1.1200. If the pair traded upward and reached the 1.1530 – 1.1600 area then traders could consider entering short positions on bearish reactions. On the upside, the pair need to climb and close above 1.1750 to reverse the current bearish outlook.

Today’s critical levels to watch:

Support: 1.1200

Resistance: 1.1600, 1.1750