EUR/JPY closed the previous trading day as a bullish pin bar. The pattern indicates a possible bullish continuation in the coming days. However, there is lack of bullish movement today and the pair might start losing altitude again. No change to the outlook yet for EUR/USD, the pair will continue trade inside a triangle pattern and ranging between 121.50 – 123.30.
Support: 122.00, 121.50, 121.00, 120.00
Resistance: 123.00, 123.30
EUR/GBP traded lower yesterday but managed to recover and close near Wednesday low. The pair is not ready for bearish correction and should continue its direction upward to test the top trendline. At the current time, there is nothing to do aside from waiting the resistance tested.
today critical levels to watch:
Support: 0.8920, 0.8900
GBP/JPY formed a range between 135.00 – 136.00 and the pair currently stuck inside it. Traders could use the moment to trade the range with a bearish bias. However, previous day bullish pin bar pattern might put traders under caution. If the pair could continue higher and close above the pattern high then it is better to avoid short positions.
Today Critical level to watch:
Resistance: 136.00, 137.40
The major question to ask in GBP/CHF is whether the pair will continue inside the bearish channel or breakout above it. At the current time, no confirmation of breakout or rejection yet. Traders could use 1.2300 as the level to look for a long position if a test produces a bullish pattern.
Today critical levels to watch: