EUR/JPY

EUR/JPY made a bearish close yesterday but is inside the weekly range. The pair is currently under bearish pressure but might continue the ranging movement. Traders will continue waiting for a bearish pullback to enter long positions near support levels. We expect the pair to continue the bullish trend and print a new higher high. It is better to avoid shorting the pair unless there is a major bearish movement near the top.

Today’s critical levels to watch:

Support: 151.50, 148.50

Resistance: 155.00, 160.00, 162.87, 171.00

EUR/GBP

EUR/GBP resumes the bearish movement below the 0.8580 – 0.8600 range and is set to target a new lower low on the chart. Traders who enter short positions on bearish retest could continue to hold the position with a stop above 0.8600 or the trendline. As long as the pair continue printing a new lower low and lower high, the trend will continue bearish.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY hanging near the top without major movement. The pair might continue the sideway movement near the top and traders will continue waiting for a bearish correction. If the pair start a bearish correction then 182.45 and 178.50 is the level to watch for bullish reactions. As the trend is bullish, it is better to wait for a chance to add more long positions.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF start moving up again and might have printed a new higher low. The pair upward target is the 1.1530 – 1.1600 area. Traders who have long positions from the 1.1200 or the trendline retest could continue to hold the positions and move stop level below the latest swing low or 1.1300.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750