EUR/JPY

EUR/JPY bearish pressure has not subsided yet as the pair continue moving lower today. The bearish pressure has moderate momentum which means traders might want to “Wait & see” for now. If the pair could bounce from the 154.00 – 155.00 area then the bullish trend will continue. On the lower side, 148.50 – 151.50 is the area to watch as a major support area.

Today’s critical levels to watch:

Support: 151.50, 148.50

Resistance: 155.00, 160.00, 162.87, 171.00

EUR/GBP

EUR/GBP resume the bearish movement and print a new lower low today. The pair is set to continue the bearish trend to target the 0.8400 support level. Traders who have short positions will continue to hold the positions for now. Without any change to the situation, it is better to avoid long positions until the pair form a support level and bounce from it.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY made another bearish close yesterday and will target the 178.50 support level next. Traders will wait near the support level for bullish reactions. When bullish reactions happen then traders could enter long positions. We think the pair could continue the bullish trend as long as there is no change from the BOJ side.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF looks consolidating inside a triangle area and currently will wait for a breakout. Traders will await the breakout before entering positions. On the upside, 1.1530 – 1.1600 is the area to watch as a target. If the pair breakout lower then 1.1200 is the bearish target to watch.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750