EUR/JPY

EUR/JPY bounced from the level near 140.50 support with strong bullish momentum. The pair seems to have confirmed a new bullish leg and might continue upward to test the trendline and target the 148.50 – 151.50 resistance area. No change to the long-term outlook yet but further weakness and a new lower low will cancel the current bullish outlook.

Today’s critical levels to watch:

Support: 145.00, 140.50, 137.40

Resistance: 148.50, 151.50

EUR/GBP

EUR/GBP continues to stick near the 0.8580 – 0.8600 area which means no continuation of the bearish trend yet. The pair is slightly higher today and might bounce toward the 0.8700 – 0.8750 area. The next long-term trend will depend on the formation of a new higher high or lower low. Traders could continue to use the range between 0.8580 – 0.8750 as a place to apply range trading strategies.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750, 0.8900, 0.9000

GBP/JPY

GBP/JPY bounced from the 164.00 support level and start moving upward today. The pair seems will trade between the 164.00 – 168.50 area for now. Traders could use the range to do a range trading strategy until a breakout and close outside of the range happen. We still think there is a chance of bullish continuation but it is better to wait for breakout confirmation.

Today Critical level to watch:

Support: 164.00, 161.00, 156.58, 153.50

Resistance: 168.50, 170.00

GBP/CHF

GBP/CHF is testing the 1.1530 – 1.1600 area for now. The pair showed a bearish reaction today but not a strong one. If the pair could breakout an close above the area then traders will expect a bullish continuation. On the other hand, if the pair get rejected and move lower to print a new lower low then the bearish trend will continue.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750