EUR/JPY

EUR/JPY lost its bullish momentum and looks start to trade lower. If the pair fall from the current level then we might have a lower swing high. When the pair continues moving lower and closes below 154.00, it will form a lower swing low which confirms the bearish trend. We favor the bearish scenario over the bullish scenario and think the current location is the place to enter short positions with tight stops.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP fell and printed a new lower low in today’s trading session. However, the pair also makes a bullish recovery to trade near the opening level. We might see a bullish attempt to retest the 0.8580 – 0.8600 if the pair could close above the opening level. In the long term, we still think the pair will resume the bearish trend and print a new lower swing low.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY hanging near the top and looks under bearish pressure today. Despite the situation, the pair continue trading inside the previous day’s range. No conclusion yet on the pair’s next movement. If the pair could break out upward with strong bullish momentum then the bullish trend could continue. On the lower side, when the pair starts moving lower again, it needs to close below 178.50 to confirm the continuation of a bearish trend.

Today’s Critical level to watch:

Support: 182.45, 178.50

Resistance: 184.00, 186.00

GBP/CHF

GBP/CHF trading between the 1.1000 – 1.1100 area right now and we expect the pair to fall sharply to continue the bearish trend. However, there is no strong bearish confirmation yet for now. If the pair continue trading upward then a close above 1.1200 will cancel all bearish outlooks. Traders could use the area between 1.1000 – 1.1100 as a place 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