EUR/JPY

EUR/JPY slightly higher today but quickly lose the bullish pressure. The pair is trading not far from the opening level and might resume the bearish movement toward 154.00 – 155.00 area soon. We think the bearish trend will continue as it is supported technically and fundamentally.

Rising inflation in Japan will prompt BOJ to continue raising interest-rate or at least plan something to curb the inflation.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00, 165.00

EUR/GBP

EUR/GBP is on the path lower after the breakout below 0.8325 and new lower low. The pair might start a bullish correction, and traders could wait near 0.8325 for bearish reactions to enter short positions. As long as there is no new higher swing high, it is safe to continue shorting the pair.

Today’s critical levels to watch:

Support: 0.8250

Resistance: 0.8325, 0.8400, 0.8500, 0.8530

GBP/JPY

GBP/JPY is on similar path as other JPY pairs. It will continue the bearish movement to test the 188.00 support level now. As mentioned before, a close below the level will confirm the long-term bearish continuation. At the current time, whenever the pair trading upward, traders could use it as a chance to enter short positions.

Today’s Critical level to watch:

Support: 188.00

Resistance: 190.00, 193.50, 195.00

GBP/CHF

GBP/CHF stabilize near the top of green box area. No confirmation yet for either long or short positions. At the current time, it is better to stay sideline. Otherwise, traders who want to speculate with short positions could place stop order above the latest high.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800

Resistance: 1.1360, 1.1400