EUR/JPY

EUR/JPY resume the bullish movement and print a new higher high on the chart. The pair will continue the upward movement and target a new higher swing high. As the trend is bullish, traders better avoid short positions until a new lower high and lower low is printed on the chart. When the pair start a bearish correction, traders could consider entering long positions.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00, 151.50, 148.50

Resistance: 162.00, 163.00

EUR/GBP

EUR/GBP keeps testing the level near the 0.8580 – 0.8600 area and there is a bearish reaction today. The pair has fallen below the previous day’s low and will attempt to continue the bearish trend. On the lower side, the pair will target the formation of a new lower low on the chart. However, if the pair could climb and close above 0.8600 then the trend might turn bullish again.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY finally broke out and continues the bullish movement today. The pair has printed a new higher swing high and will target the 2014 high (195.852). Under the current situation, it is better to stay sideline and watch the pair moving upward to test the 2014 high. Will the pair break out higher or will it reverse and start a new bearish leg? We think the bullish trend still has an upward leg but it might be risky to add long positions at the current level. Wait until a bearish pullback happens for a chance to enter long positions.

Today’s Critical level to watch:

Support: 188.50, 186.00, 184.00, 182.45, 178.50

Resistance:

GBP/CHF

GBP/CHF bounced from the 1.1100 support level with moderate bullish momentum today. The pair will attempt to continue the bullish movement to test the 1.1200 resistance level. When the pair manage to close above 1.1200, the long-term trend will turn bullish. At the current time, traders will observe the pair reactions near the 1.1200 resistance 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