EUR/JPY

EUR/JPY reversed its direction sharply and might confirm a bearish continuation. We could see the pair trading inside a triangle pattern and it might test the bottom of the triangle soon. Traders will monitor the pair’s movement inside the triangle area. If the pair could break out and close outside of the triangle area, traders will get confirmation on the next direction.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP made a bearish close but maintained its position near 0.8400. The level acts as a support level now and traders will wait for a bounce from it. When bounce reactions happen, traders could add long positions targeting 0.8500. However, if the pair breaks lower then 0.8325 is the support level to watch next.

Today’s critical levels to watch:

Support: 0.8400, 0.8325, 0.8250

Resistance: 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY made a major bullish close last week. However, the pair immediately turned lower this week and erased all of Friday’s gain. We might see the pair extending the bearish movement toward the 190.00 level or the bottom of the triangle area. Traders will wait for a close outside of the triangle area to get confirmation on the next direction.

Today’s Critical level to watch:

Support: 190.00, 188.00

Resistance: 193.50, 195.00, 198.00, 200.00

GBP/CHF

GBP/CHF is on track to move toward the top of the green box area. There is slight bearish movement today but the pair might find support at 1.1200. Traders who have long positions since the bottom of the green box area will continue to hold the positions. As long as the pair stays inside the green box area, traders could continue to apply range trading strategies.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225, 1.1360, 1.1400