EUR/JPY

EUR/JPY launched upward after the test of the 154.00 – 155.00 area. The upward movement has strong momentum and surpasses the previous week’s high. The pair could continue the bullish movement for now and traders will wait until it loses the bullish momentum. When the pair starts reversing and form a bearish close then it might be the confirmation for traders to enter short positions.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP made a bullish close yesterday but immediately turned lower again today. The pair almost returned to the 0.8580 – 0.8600 area again. Traders will wait for further reactions near the area. If the pair show bullish reactions then it might attempt to move upward again. Despite the current bullish reactions, the pair has formed a lower swing low which means there is a chance of a bearish continuation.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY launched upward following all of the Japanese Yen pair. The upward movement has reached the 184.00 level and might break out further higher. Traders will wait for further reactions for now as the current upward movement has strong momentum. If the pair fails to print a new higher high then traders could enter short positions with a stop above the previous swing high.

Today’s Critical level to watch:

Support: 178.50

Resistance: 182.45, 184.00, 186.00

GBP/CHF

GBP/CHF mostly flat despite the bearish close yesterday. No bearish continuation and no lower low printed on the chart. It seems the consolidation will continue near the 1.1060 level and traders will wait for reactions. On the upside, a close above 1.1200 will cancel the bearish outlook and start a new bullish trend.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1060, 1.1100, 1.1200, 1.1530, 1.1600, 1.1750