EUR/JPY

EUR/JPY is currently under pressure and set to resume the weakness toward 128.00. There is no test on the support level yet. Traders will stick to the latest plan, waiting near 127.00 and 128.00 for a chance to enter long positions when there is a bullish reaction. As long as the 127.00 support level holds out, it is safe to assume that the bullish trend is still intact.

Today critical levels to watch:

Support: 128.00, 127.00

Resistance: 130.00, 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP rejection from the 0.8400 resistance level has brought the pair down to trade near 0.8325. No breakout from the 0.8325 – 0.9400 range yet. If the pair could breakout and close below 0.8325 then traders will expect a long-term bearish continuation. On the upside, 0.8400 and trendline are levels to watch for short positions.

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY bounced from the 153.50 support level but no confirmation yet that the upward movement will continue. The pair might continue trading near the 153.50 support level while waiting for the catalyst to move. If the 153.50 support level could hold out until the end of the week then it is safe to assume that the bullish trend can continue.

Today Critical level to watch:

Support: 153.50, 150.00, 149.20

Resistance: 156.58, 160.00

GBP/CHF

GBP/CHF adds more bullish close on the daily chart and gets near the 1.2500 resistance level. The pair might continue ranging movement between 1.2300 – 1.2500 and traders will wait for a breakout. On the bigger outlook, we have a higher high and higher low now which means the odds are tilting to the bull side.

Today critical levels to watch:

Support: 1.2300, 1.2000

Resistance: 1.2500, 1.2600, 1.2700