EUR/JPY

EUR/JPY made bullish attempt today, but it reversed and currently the pair trading below the opening level. We expect a bearish correction as the pair has reached the Fibonacci extension level. The overall trend is bullish, and the pair looks will continue the bullish movement to target 175.374 swing high. If a bearish correction happens, the trend line might become the level to watch for bounce reaction.

Today’s critical levels to watch:

Support: 166.50, 165.00, 163.00

Resistance: 170.00, 171.595

EUR/GBP

EUR/GBP is currently consolidating near the 0.8580 – 0.8600 area, and there is no bullish continuation sign yet. We expect the pair to continue the upward movement toward 0.8700 – 0.8750 area. If the pair start a bearish correction, then the 0.8580 – 0.8600 area will continue as support area and place to add long positions.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY reached 199.80 before turning lower today. It seems the bear trying to protect the 200.00 resistance level. If the pair turn lower, then 198.00 is the support level which might hold-off against further downside. Aside from the 198.00 level, there is the trend line to watch for bounce reaction. If there is no major change of structure, we expect a breakout above 200.00 soon.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00, 188.00

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF keep pressuring the 1.0800 level and looks will break out below the level soon. Traders who has short positions will continue to hold the position with 1.02419 as long-term bearish target. As mentioned before, if the pair turn higher and close above 1.1100 then the bearish trend will be invalidated.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200