EUR/JPY

EUR/JPY continues moving upward and prints a new high. Despite the situation, the current movement might be a bullish corrective movement before further downside. Traders will stay sidelined for now as the pair has not left the range formed by a massive bearish candlestick in December. As long as the pair close inside the candlestick range then the situation is neutral.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP is near the bottom of the triangle pattern and shows a bullish reaction. The pair might start moving upward to test the top of the triangle pattern. Traders will observe the pair reactions inside the triangle pattern for now. Without any major breakout from the triangle pattern, the pair will continue its sideway movement with a bearish bias.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY attempts to continue the upward movement and breakout from the consolidation range. No confirmation yet on where the pair will move in the long term. If the pair reverse the gain and start moving lower again then traders will wait near 178.50 for reactions. A close below 178.50 will confirm the continuation of a bearish trend.

Today’s Critical level to watch:

Support: 178.50

Resistance: 182.45, 184.00, 186.00

GBP/CHF

GBP/CHF bullish correction has not been completed yet as the pair continue trading upward. If the pair continue moving upward then the 1.1000 level will become the upward target. We still think the pair will resume the bearish trend and print a new lower low when the current bullish correction is completed and show bearish reactions.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

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