EUR/JPY

EUR/JPY made a bearish close and there is a bearish follow-through today. However, the bearish pressure seems receding, and the pair trading near the opening level now. We might see the pair continue consolidating near the Fibonacci Retracement level. If the pair continues the upward movement then traders will wait for more bearish confirmation near the Fibonacci Retracement levels.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP has not shown a bullish close on the daily chart after the breakout below 0.8500. Although bearish, there might be a bullish reversal soon which could bring the pair up to test the 0.8500 – 0.8530 area. Traders could wait for confirmation near the area. If the pair could close above the area then there is a chance of bullish continuation. However, if the pair get rejected then it will attempt to resume the bearish trend to print a lower swing low.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY losing bearish pressure and might continue trading near the Fibonacci Retracement levels. There is a chance of upward continuation to retest higher level. As mentioned before, if the pair formed bearish reactions then it is a chance for traders to enter short positions. The overall trend has turned bearish which means traders better avoid long positions.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF sticks near the 1.1200 – 1.1225 area but is limited below it. The pair might continue consolidating near the area while waiting for further reactions. If the pair gets rejected and forms a major bearish reaction then the bearish trend could continue. On the other hand, a close above the area might open the upward path toward the green box area.

Today’s critical levels to watch:

Support: 1.0800, 1.0500

Resistance: 1.1000, 1.1200, 1.1225