EUR/JPY

EUR/JPY breakout and closed below the trend line, which could become an indication of bearish continuation. There are two scenarios to watch now. The pair might turn upward, erased all the losses, return inside the triangle and breakout higher to confirm a false breakout. On the other hand, the pair might continue the bearish movement without any retest and print a new lower swing low.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP resume the bearish movement and there is no bullish sign yet. The pair keep getting lower and soon might reach the 0.8325 level. If the pair testing the level and stabilize near it, then traders could add long positions. However, if the bearish pressure gain traction and print new lower swing low, then it is time to give up bullish scenario until new higher swing high or higher swing low printed.

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 trapped inside the triangle area, which mean the situation continue to be sideways. The pair will continue the ranging movement and traders will wait for breakout and close outside the area. When the pair breakout and close outside the triangle area, traders will 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 on track to target the top of green box area. Up until now, there is no change of strategy. Traders will continue to use the green box area as a place to apply range trading strategies. Always use a tight stop outside the area as the pair might break out with strong momentum when it decides to move.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225, 1.1360, 1.1400