EUR/JPY

EUR/JPY undergoes a bearish correction right now toward the nearest horizontal level. The pair will test the area and look for reactions. If the pair could bounce from the area then a new higher low will be printed. Traders will continue to use the current bearish correction as a chance to add more long positions. As long as the pair continue printing a new higher high and higher low, the trend will continue bullish.

Today’s critical levels to watch:

Support: 151.50, 148.50

Resistance: 155.00, 160.00, 162.87, 171.00

EUR/GBP

EUR/GBP make a bullish attempt today but experience rejection from the 0.8580 – 0.8600 area. The pair give up the gains but stay above the opening level. We think the pair might continue the bearish trend and print a new lower low on the chart. However, if the pair could close above 0.8600 then the bearish outlook will be canceled or postponed.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY starts a new bearish correction as the pair falls below 182.45. On the lower side, 178.50 is the support level to watch for bounce reactions. Even though the pair fall below the level, there is more room downside to cancel the bullish trend. If the pair form a lower high in the next bullish attempt then traders will become cautious and wait for further confirmation.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF bullish pressure losing steam and the pair start trading lower. It might consolidate inside the triangle area shown on the chart. Traders will wait for the pair to make a breakout from the range to confirm the next direction. On the upside, 1.1530 – 1.1600 is the bullish target and we think the pair will reach it in the medium-long term.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750