EUR/JPY

EUR/JPY bounced from the 154.00 – 155.00 area and continued to maintain the positions near the top of the consolidation level. The pair might attempt to extend the bullish movement and avoid further breakout below the 154.00 – 155.00 area. However, if the pair breaks below the 154.00 – 155.00 area and forms a new lower low then the bearish trend will continue. We still think the bear has the upper hand and suggest traders wait and see for now.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP stays at the bottom of the triangle and the 0.8580 – 0.8600 area. It might bounce up to target the top of the triangle pattern. At the current time, traders will assume the pair will continue to range inside the triangle pattern. A breakout and close outside of the triangle range will confirm the pair’s next long-term direction. Traders will use the chance to do range trading for now.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY gaining above the 182.45 level and might attempt to bounce from it. However, it seems there is a major resistance level near 185.00. Will the pair extend the bullish movement and continue the bullish trend? Alternatively, will the pair start moving lower again and close below 178.50 to confirm a bearish continuation?

Today’s Critical level to watch:

Support: 178.50

Resistance: 182.45, 184.00, 186.00

GBP/CHF

GBP/CHF underwent a bullish correction movement as expected. The pair has reached the previous support turned resistance. If the pair form a major bearish reaction near the current level then we might see a bearish continuation. On the other hand, if the pair continues the upward movement then traders could wait near 1.1000 for bearish reactions and chance to enter short positions.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1060, 1.1100, 1.1200, 1.1530, 1.1600, 1.1750