EUR/JPY

EUR/JPY was rejected from the orange box area and formed a bearish pin bar pattern. The pair continue the bearish movement today and fall toward the 128.00 support level. The situation is back to square zero again as the pair will continue testing the level for now. If the pair continue the bearish movement toward 127.00 then traders could consider long positions near the level when there is a major bullish reaction.

Today critical levels to watch:

Support: 128.00, 127.00

Resistance: 130.00, 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP managed to close near 0.8500 and avoid breakout below the level yesterday. However, the pair is currently under pressure and fall below 0.8500. If the pair could close the day near 0.8500 again then it might avoid further weakness in the coming week. On the upside, the pair needs to break out and close above the trendline to confirm further upside.

today critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY distanced itself from the 149.20 – 150.00 area. However, the pair lost bullish momentum and start moving lower again. If the pair make another retest on the 149.20 – 150.00 then there is a chance of a bearish breakout. Traders will continue to monitor closely the reaction from the 149.20 – 150.00 area to determine the pair’s next direction.

Today Critical level to watch:

Support: 150.00, 149.20

Resistance: 153.50, 156.58, 160.00

GBP/CHF

GBP/CHF made an upward attempt above the 1.2300 resistance level. A breakout happened but the pair reverse the direction and closed the day as a bearish pin bar pattern. There is bearish follow-through today but the pair immediately recover from the bearish move and currently trading near the opening level. Will the pair resume the bearish movement and target the 1.2000 support level? Alternatively, will it jump with strong bullish momentum to close above 1.2300?

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2500, 1.2600, 1.2700