EUR/JPY

EUR/JPY started a bullish movement with strong momentum today after the release of PCE data. However, the pair have not left the 135.00 – 137.40 area yet. If the pair closes inside the range at the end of the day then traders will continue to apply ranging strategies. It might be better to wait for the closing level at the end of the day to determine the pair’s 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 is moving inside a triangle pattern and a breakout soon will happen. The pair also trade between 0.8400 – 0.8500 now. Traders might want to observe a double breakout from the range to confirm the next directions. At the current time, it is better to wait until the actual breakout happens before placing positions.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8580

GBP/JPY

GBP/JPY maintains the 161.00 – 164.00 range which means the situation is sideway. There is no conclusion yet on where the pair will move next. Similar to the EUR/GBP situation, traders will wait for an actual breakout and close outside of the range to get confirmation on the next directions.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF trading slightly upward but continue on its bearish track. There is no change to the bearish situation yet where 1.1200 is the target. If the pair starts moving upward then traders will monitor the pair reactions at the 1.1530 and 1.1600 resistance levels. Short positions could be considered when there are major bearish reactions.

Today’s critical levels to watch:

Support: 1.1200

Resistance: 1.1530, 1.1600, 1.1750