EUR/JPY

EUR/JPY extended its bullish movement and almost reached 121.50 resistance. The pair make bearish correction today and tested 120.30 support level. A bounce is expected and EUR/JPY will retest 121.50 and the top of the channel. If the pair could not close above the top of the channel then traders will expect the continuation of the long-term bearish trend.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50

EUR/GBP

EUR/GBP made a bullish correction and tested 0.8400 resistance. The pair slightly lower after the test and closed near its opening level. Similar to the previous analysis, we think the pair will consolidate inside 0.8325 – 0.8400 range for now. Traders will apply ranging strategies with a bearish bias.

today critical levels to watch:

Support: 0.8325, 0.8120

Resistance: 0.8400, 0.8500, 0.8600

GBP/JPY

GBP/JPY managed to add gain and reach the top of the range. No breakout of the range yet and the pair slightly lower today. Without any breakout, GBP/JPY will continue its ranging movement and move lower to test 142.50 again. Traders could look for short positions at the top of the range with a tight stop order.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

A close below 1.2700 support level happened yesterday. It is not a major bearish close and the pair might start moving higher again to target 1.2900. Traders could look for long positions and hold it if the pair could close above 1.2700 by the end of the day. A stop order could be placed near the previous day low. Short positions could be considered near 1.2700 too with 1.2500 as the target.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2900, 1.3000