EUR/JPY

EUR/JPY is under bearish pressure again today but no lower low printed on the chart yet which means the situation is neutral. On the upside, the pair might retest the trendline to determine the next direction. When a bullish breakout and a new higher swing high are printed on the chart, the bullish trend could continue. On the other hand, if the pair starts moving bearishly again then it needs a close below 154.00 to confirm a bearish continuation.

Today’s critical levels to watch:

Support: 155.00, 154.00, 151.50, 148.50

Resistance: 160.00

EUR/GBP

EUR/GBP extended the bearish movement and moved within our expectations. The pair will continue the bearish movement with or without a bullish correction. If a bullish correction happens then traders could wait near the resistance level for a chance to add short positions in the pair.

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 there are no major reactions yet. The pair could continue trading sideways and wait for major reactions. Similar to the EUR/JPY situation, if the pair could continue upward and print a new higher swing high then the bullish trend could continue. On the lower side, the pair needs to close below 178.50 to confirm long-term bearish continuation.

Today’s Critical level to watch:

Support: 182.45, 178.50

Resistance: 184.00, 186.00

GBP/CHF

GBP/CHF printed a new lower low this week which could confirm the continuation of a bearish trend. The pair has formed a new lower swing high in the previous bullish attempt and a new lower low will become the bearish confirmation to watch. Traders who enter short positions could place the stop level above the latest swing high or 1.1100 resistance level.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

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