EUR/JPY

The test on 121.50 resistance level results in a bearish rejection. EUR/JPY could not climb above 121.50 but it maintained the position above 120.00 – 120.30 area. The pair might continue building bullish momentum and breakout from the 121.50 resistance level.

Traders could use the 120.00 – 120.30 area as the level to take long positions.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30

EUR/GBP

It is the moment of truth for EUR/GBP. The pair closed near the 0.9000 support level at the end of the week. This week, traders will wait for a further reaction from the support level. If bounce happens then we will expect the bullish continuation toward 0.9300 resistance level.

On the other hand, if bearish breakout happen then EUR/GBP might fall toward 0.8920

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

GBP/JPY upward attempt toward 135.00 – 136.00 resistance area resulted in rejection before it could reach the area and printed a bearish pin bar pattern. The pair managed to close higher though at the end of the previous week, avoiding breakdown below the pin bar pattern.

This week, there is a chance for the pair to continue moving higher and test the 135.00 – 136.00. However, if bearish movement happens then traders will observe the pair reaction near 132.50 – 133.00.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 135.00, 136.00

GBP/CHF

GBP/CHF bullish correction continues and might reach the 1.1870 resistance level. When the pair reach the resistance level and formed a bearish reaction, traders could enter short positions. Long-term long positions is not suggested until the pair cross above 1.1870.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867, 1.2000