EUR/JPY
EUR/JPY building more bullish pressure above the 140.50 support level. The pair currently will test the 142.75 level where a bullish breakout will confirm upward continuation. Without a breakout, the pair might continue trading sideway between 140.50 – 142.75. No confirmation yet on the pair’s next trend which means it is better to wait until an actual breakout happens.
Today’s critical levels to watch:
Support: 140.50, 137.40, 135.00
Resistance: 142.75, 145.00, 148.50, 151.50
EUR/GBP
EUR/GBP continues moving lower slowly toward the 0.8750 support level. We think the pair might reverse the bearish pressure and start moving upward again with strong bullish momentum. On the upside, a close above 0.9000 will become the long-term bullish continuation confirmation. Under the current situation, traders will wait near 0.8750 or until a bullish reversal happens to enter long positions.
Today’s critical levels to watch:
Support: 0.8750, 0.8700, 0.8600, 0.8580
Resistance: 0.8900, 0.9000
GBP/JPY
GBP/JPY trading upward with moderate bullish momentum. The pair currently trading at the top of the green box area and will wait for reactions. A major bullish breakout and close above the area will confirm an upward continuation to test 164.00. A close above 164.00 will overturn the current bearish trend and open the chance toward 168.50. However, if the pair start moving lower again then it is expected to continue consolidating inside the green box area.
Today’s Critical level to watch:
Support: 156.58, 153.50
Resistance: 161.00, 164.00, 168.50, 170.00
GBP/CHF
GBP/CHF make a bullish attempt and traded above the 1.1200 level today. The pair seems will reverse the current bearish pressure and start moving upward again to target the 1.1530 – 1.1600 area. Traders could use the moment to enter long positions with a tight stops below the last swing low. A close above 1.1600 will cancel all bearish scenarios below 1.1200.
Today’s critical levels to watch:
Support: 1.1200, 1.0500, 1.0000
Resistance: 1.1530, 1.1600, 1.1750