EUR/JPY
EUR/JPY looks going to move toward the trendline to test it again. The pair might break out upward and continue the bullish trend by printing a new higher high. However, there is a chance of a bearish reversal too after the retest of the trendline. Traders will wait for reactions near the trendline to confirm the pair’s next direction. The next higher high or lower low might indicate the pair’s next direction.
Today’s critical levels to watch:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00
EUR/GBP
EUR/GBP is trading upward but not leaving the weekly consolidation range yet. The pair might attempt to move upward and test the 0.8580 – 0.8600 area. At the current time, traders will wait for a retest of 0.8580 – 0.8600 or the formation of a lower low on the chart to confirm the next direction. As long as there is no higher high printed on the chart, the trend will continue to be bearish.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY continues trading upward and is set to retest the resistance level again. Will the pair break higher this time and print a new higher high? Alternatively, will it lose the bullish pressure and turn lower again to print a lower high and target the 182.45 also 178.50 support levels? It is better to stay sidelined for now monitoring the pair movement near the resistance level.
Today’s Critical level to watch:
Support: 182.45, 178.50
Resistance: 184.00, 186.00
GBP/CHF
GBP/CHF reversed the bullish movement once again and might resume the bearish movement to target a new lower low. The pair direction is bearish as the latest bullish attempt resulted in a lower swing high. When the pair manages to print a new lower swing low on the chart, it will confirm the long-term bearish trend. However, if the pair manage to climb and print a new higher swing high then the trend will turn bullish again.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1060, 1.1100, 1.1200, 1.1530, 1.1600, 1.1750