EUR/JPY
EUR/JPY continues moving lower, away from the bearish trendline. If the bearish movement continues then the pair might target the 154.00 – 155.00 area. Traders will wait near the area for reactions to determine the pair’s next direction. When the pair closes below the area with a strong bearish breakout then the bearish trend will continue. On the upside, a breakout above the trendline and a new higher high will cancel the bearish outlook.
Today’s critical levels to watch:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00
EUR/GBP
EUR/GBP direction is bearish as each bullish attempt is always met with strong bearish reactions. It might be a matter of time before the pair continues lower and prints a new lower low on the chart. Traders better avoid long positions for now or wait near the 0.8580 – 0.8600 for short positions chance. Despite the situation, there is a chance the pair will move upward to print a new lower high around the trendline.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY extends the bearish movement and might start moving toward 182.45 and 178.50. At the current time, traders will wait for the pair to reach the support level for a retest. When the pair could bounce and print a higher low then traders could enter long positions with a stop below the previous low. On the upside, a breakout above the resistance and a new higher high will confirm a bullish continuation.
Today’s Critical level to watch:
Support: 182.45, 178.50
Resistance: 184.00, 186.00
GBP/CHF
GBP/CHF slowly moving lower and prints a new lower low each day. The pair’s bearish trend might continue and it will target a new lower low on the chart. However, if the pair starts moving upward again then 1.1000 is the resistance level traders could watch for bearish reactions and a chance to enter short positions. On the upside, a new higher high will cancel the current bearish outlook.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1060, 1.1100, 1.1200, 1.1530, 1.1600, 1.1750