EUR/JPY

We have a bounce from the 120.00 – 120.30 support area and EUR/JPY launched higher today. The pair might continue moving upward and target 121.50 resistance. Today sudden bullish reaction in the market comes after PBOC plan to inject a stimulus of nearly 1 trillion Yuan and 400 billion Yuan to the market.

If the coronavirus situation improved then the current bullish move in the market might turn into a massive rally.

Today critical levels to watch:

Support: 120.30, 120.00

Resistance: 121.50, 122.00

EUR/GBP

A bounce happened at the 0.8400 support level. It is an initial confirmation of bullish attempt, however, there is no follow-through today. EUR/GBP might continue moving sideway for now while traders waiting for a further clue in the next direction.

today critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8600, 0.8750

GBP/JPY

The direction of GBP/JPY might stay unclear as the pair zig-zagging at 142.50 level. It fell sharply below the level yesterday but it might close above it today. There are higher odds for bullish movement but traders might expect the pair to stick near 142.50 for now.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

Similar to the situation in GBP/JPY, GBP/CHF next long-term direction is hard to predict. The pair range span between 1.2500 – 1.2700 now. Traders will monitor the pair reaction inside the range and waiting for a breakout.

Today critical levels to watch:

Support: 1.2600, 1.2500, 1.2300

Resistance: 1.2700, 1.2900, 1.3000