EUR/JPY

EUR/JPY trend has turned bearish and it is currently below the 140.50 level. The pair make a bullish recovery with strong momentum today, but it is before the Fed FOMC minutes of the meeting. If the pair get rejected and form a major bearish reaction then traders could prepare to enter short positions. On the upside, if the pair could extend the bullish movement then the trendline will be the resistance level to watch.

Today’s critical levels to watch:

Support: 137.40, 135.00

Resistance: 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP undergo a bearish correction and soon will reach the 0.8750 level. Traders will observe the pair reaction near the 0.8700 – 0.8750 area. If the pair could bounce with strong bullish momentum then traders could enter long positions. On the upside, 0.8900 and 0.9000 will become the bullish target. However, if the pair continues moving lower and print a new lower low then the trend will turn bearish.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750, 0.8900, 0.9000

GBP/JPY

GBP/JPY staged a bullish recovery in today’s trading session. It reaches the 160.00 level and might stick near it. If the pair shows a bearish reaction from the level then traders could enter short positions. On the upside, we think the pair might reverse its direction around 161.00 – 161.50. An upward movement and close above 164.00 will cancel the current bearish outlook.

Today Critical level to watch:

Support: 156.58, 153.50

Resistance: 161.00, 164.00, 168.50, 170.00

GBP/CHF

GBP/CHF made a bullish close yesterday but stick near the 1.1200 level. There is no major bullish close above the level yet which means the consolidation near the level will continue. If the pair form a bearish reversal pattern then traders will expect a new bearish trend below the 1.1200 level. No conclusion yet for now and it is better to stay sideline.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750