EUR/JPY

EUR/JPY hanging near the top and there is no major bearish reaction yet. The pair might continue the bullish movement and traders who have long positions will continue to hold the positions for now. If the pair start a bearish correction then the nearest support level is the horizontal line around 155.00. Traders could use the level to enter long positions when there are bullish reactions.

Today’s critical levels to watch:

Support: 151.50, 148.50

Resistance: 155.00, 160.00, 162.87, 171.00

EUR/GBP

EUR/GBP is trading lower below the 0.8580 – 0.8600 area and is set to resume the bearish trend. If the pair could continue moving lower and print a new lower low then the bearish trend could continue. On the other hand, if the pair reverse the bearish pressure and close above 0.8600 then it might start a new bullish leg.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY building more bullish pressure today and attempting to break out above the previous week’s high. No sign of weakness which means it is safer to avoid short positions. Traders who has long positions from the previous swing low will continue to hold the positions. If the pair start a bearish correction then traders could use 178.50 as a level to enter long positions.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF bearish pressure seems receding and the pair start moving upward. A bullish continuation from the current level will target the 1.1530 – 1.1600 area. If the pair resume the bearish movement then 1.1200 is the support level to watch for bullish reactions. We think the pair is in a higher low formation phase right now. When a higher low is formed, the pair could continue the bullish trend.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750