EUR/JPY

EUR/JPY escaped bearish scenario after the pair printed new lower swing low but no decisive close below the multiple lows. The pair is currently trading higher and soon will test the previous swing high. If the pair printed new higher swing high, then the bullish structure confirmed and the bullish trend will continue. On the lower side, the multiple lows will become the invalidation level for the current bullish move.

Today’s critical levels to watch:

Support: 182.583, 182.00, 180.54, 180.00

Resistance: 183.40, 185.84

EUR/GBP

EUR/GBP printed a new lower swing low and completed the first bearish target at 127.2% Fibonacci Extension level. We maintain the bearish target at 0.8580 – 0.8600 area. As long as the pair continue printing new lower swing high and lower swing low, the bearish trend will continue. On the upside, the 0.8750 level is the swing high to watch for bearish trend invalidation.

Today’s critical levels to watch:

Support: 0.8700, 0.8600

Resistance: 0.8750, 0.8800, 0.8850, 0.8920

GBP/JPY

GBP/JPY tested the previous swing high and will attempt to breakout higher. The pair back to bullish trend after no bearish follow through since lower swing low. On the upside, 215.00 and the 161.8% Fibonacci Extension at 219.29 will become the target to watch.

Today’s Critical level to watch:

Support: 210.00, 208.00, 207.00

Resistance: 211.50, 214.965

GBP/CHF

GBP/CHF turned bearish since it fell below 1.0660 level. A retest on the level has happened and the pair slightly lower. If there is no change to the situation, we might see bearish continuation and new lower swing low. On the upside, a close above 1.0660 might change the outlook again.

Today’s critical levels to watch:

Support: 1.0600, 1.0500

Resistance: 1.0660, 1.0800, 1.1000, 1.1200