EUR/JPY

The expectation of stimulus by China and slowing down in coronavirus increase numbers (change in inclusion method) caused a spike in EUR/JPY. The safe-haven assets took a hit (U.S dollar is an exception) and retraced sharply. EUR/JPY jumped from below 119.20 and closed inside 120.00 – 120.30 range. The pair might attempt further bullish movement today.

It is important to observe where the pair closed by the end of the day.

Today critical levels to watch:

Support: 120.00, 119.20, 117.80

Resistance: 120.30, 121.50

EUR/GBP

EUR/GBP made a bullish close yesterday and expected to range between 0.8325 – 0.8400. Traders could use the range as a reference to take positions. At the current time, we still favor the bearish scenario to the bullish scenario.

today critical levels to watch:

Support: 0.8325, 0.8120

Resistance: 0.8400, 0.8500, 0.8600

GBP/JPY

GBP/JPY distanced itself from the 142.50 support level with strong bullish momentum. Will the pair finally break-through and continue its bullish trend? At the current time, we could see the horizontal range which limits the pair movement since December last year. No breakout of the range and GBP/JPY will continue its ranging movement with 142.50 as the middle point.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

GBP/CHF reached 1.2700 support level after bearish close yesterday. The pair currently stick near the support level and waiting for further reaction. Traders could place long positions at the current level while waiting for a bullish reaction. A major bearish close below 1.2700 is an indication to scale out or close long positions.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2900, 1.3000