EUR/JPY
While other JPY pairs are gaining momentum, EUR/JPY stands out as the only one currently exhibiting a strictly ranging performance. A new green box area has been drawn on the chart to highlight where this current consolidation is taking place. Fundamentally, both the EUR and the JPY are showing overall weakness right now, which is clearly reflected in the pair’s sideways price action.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
The recent breakout below multiple structural lows has triggered a definitive sell-off beneath the major 0.8580 – 0.8600 support zone. Technically, the pair is now driving lower, actively moving toward the next downside targets at 0.8525 and 0.8500. If a bullish correction were to occur in the near term, the previously broken 0.8580 – 0.8600 zone is expected to act as a major resistance area.
Today’s critical levels to watch:
Support: 0.8600, 0.8580
Resistance: 0.8700, 0.8750, 0.8800, 0.8850, 0.8920
GBP/JPY
GBP/JPY is pushing aggressively higher, successfully printing a new higher swing high on the daily chart. During this upward surge, the pair has also managed to complete the 127.2% Fibonacci extension level. If there are no major fundamental or technical changes to the current market situation, the next upside target to watch will be the 161.8% extension at 219.77.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
GBP/CHF remains firmly on its upward path, currently trading very close to the major 1.0800 resistance level. The overall bullish market structure is well maintained following recent consecutive gains. Going forward, a decisive push that prints a new higher swing high will technically confirm the continuation of this broader upward movement.
Today’s critical levels to watch:
Support: 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.0800