EUR/JPY

EUR/JPY turned upside against as the U.S dollar index gained against all currencies. The weakness in Yen pushed EUR/JPY upward and we might see a retest on the trendline. Traders will monitor the test on the trendline to gauge whether the current bullish movement could continue or reverse. If the pair could break out higher and print a new higher high then the bullish trend could continue.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP is slightly higher today but continue trading within the four-day range. The pair direction is bearish which means each upward movement is a chance for traders to add short positions. On the upside, 0.8580 – 0.8600 is the area to watch for bearish reactions. When the pair forms a major bearish reaction near the resistance area, traders could enter short positions.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY follows the EUR/JPY movement, turning upside and ready to test the resistance level again. If the pair could break out above the resistance level and print a new higher high then the bullish trend could continue. On the other hand, if the pair lost bullish momentum and reversed to the downside then 182.45 and 178.50 will become the support levels to watch.

Today’s Critical level to watch:

Support: 182.45, 178.50

Resistance: 184.00, 186.00

GBP/CHF

GBP/CHF direction is bearish but it might start moving upward again to retest the 1.1000 resistance level. As long as the pair does not form a new higher high then the bearish trend could continue. Traders could enter short positions near 1.1000 when there are bearish reactions with a stop above 1.1100. The pair need to print a new lower low on the chart to confirm a bearish continuation.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

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