EUR/JPY
EUR/JPY bullish trend progressing nicely without major bearish reactions yet. However, the pair might have reached an exhaustion period as no upward movement happened today. We might see a sideway movement or a bearish correction happening in the pair and traders could wait near the support level. When there is bullish reactions near the support level, 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 bearish rejection from the level near the area 0.8580 – 0.8600 shows a bearish continuation today. The pair fell with moderate bearish momentum but managed to recover most of the losses. If the pair continue its recovery then we might see a close near the opening level. We think the bearish trend will continue and the pair will target a new lower low on the chart. However, if the pair starts moving upward again and closes above the 0.8580 – 0.8600 area then the situation could turn bullish.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY keeps gaining on the daily chart and prints new higher highs. However, the bullish movement today experiences a bearish reaction. At the current time, the pair is trading near the opening level and might close near it. If the pair start moving lower next week then traders will expect a test on the 188.50 support level again.
Today’s Critical level to watch:
Support: 188.50, 186.00, 184.00, 182.45, 178.50
Resistance:
GBP/CHF
GBP/CHF building bullish pressure and starts moving upward to reach the 1.1200 resistance level. As mentioned before, the pair needs to close above 1.1200 to confirm the continuation of the bullish trend. If the pair reverses its direction and trades lower then a new lower low below 1.08923 might confirm the continuation of a bearish trend. Traders better awaiting reactions near the 1.1200 resistance level for now.
Today’s critical levels to watch:
Support: 1.1100, 1.1060, 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750