EUR/JPY

EUR/JPY is under bearish pressure and falls toward the 140.50 support level. The pair has reached the support level and traders will wait for reactions. If the pair form a major bullish reaction from the support level then traders could enter long positions. We still think a higher low will be printed near the level but traders will stay cautious as the current bearish movement has moderate momentum.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP bounce from the 0.8580 – 0.8600 area and there is bullish follow-through today. The pair might continue moving upward and print a new higher high on the chart. On the upside, 0.8700 is the resistance level to watch. As long as the pair continue printing a new higher high and higher low, there is no reason to turn bearish yet.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8500, 0.8400

Resistance: 0.8700

GBP/JPY

GBP/JPY fell below the 164.00 support level with moderate bearish momentum. The pair bearish pressure has not receded and we might see a continuation toward the 161.00 level. Traders will wait near the level for a chance to enter long positions when there are bullish reactions. Without bullish reactions, it is better to stay sideline.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF trade lower again in today’s trading session. The pair has moved below the previous day’s low and might continue printing new low. If the pair could reverse the bearish pressure and close the day above 1.1600 then there is a chance of a bullish reversal. On the upside, traders will observe 1.1750 and 1.2000 for short positions when the pair managed to reach it and form bearish reactions.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.2000, 1.2125