EUR/JPY

EUR/JPY sticks near the bearish trendline and shows no major reactions yet. The pair might continue waiting near the trendline for reactions now. No clue yet on the next direction, but based on other JPY pairs, it seems a bullish breakout could happen in the pair. When the pair breaks higher and forms a new higher high then the bullish trend could continue. On the lower side, 154.00 – 155.00 is the support area to watch when the breakout fails.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP resumed the bearish movement today and formed a new lower low on the chart. There is no change in the bearish scenario and traders who hold short positions in the previous bearish move could continue to hold the positions with a stop above the 0.8580 – 0.8600 area. As the trend is bearish, traders better wait near resistance levels for a chance to 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 breakout above the previous swing high and continue the bullish trend. The pair will continue the bullish trend now as it forms a new higher high. However, the trading days and week have not ended yet. If the pair make a major bearish reversal and close below the opening level then we might see a new bearish movement.

Today’s Critical level to watch:

Support: 182.45, 178.50

Resistance: 184.00, 186.00

GBP/CHF

GBP/CHF made a major bullish movement today above the 1.1100 level. The pair will target the 1.1200 resistance level next and close above it. When the pair closes above the level, it is confirmation that the trend has changed again from bearish to bullish. At the current time, it is better to wait sideline and observe the pair reactions near the 1.1200 level.

Today’s critical levels to watch:

Support: 1.1100, 1.1060, 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750