EUR/JPY
EUR/JPY made another bearish attempt today but the pair looks limited above the 171.51 level. It is a stalemate between the bull and the bear right now. We might see the pair continue trading near the 171.51 level for now and traders will wait for further confirmation. If the pair resumes the bearish movement, it will target the bullish trendline. A breakout and close below the trendline might confirm a long-term trend reversal.
Today’s critical levels to watch:
Support: 171.51, 170.00
Resistance: 176.66
EUR/GBP
EUR/GBP is mostly lower below the 0.8400 level. It printed a new lower low but not a significant bearish movement. The pair might close near the 0.8400 level this week and waiting for further confirmation next week. If the pair could immediately add to the bearish pressure and fall below 0.8400 with strong bearish momentum then the bearish trend will continue. On the other hand, if the pair consolidates above 0.8400 and shows strong bullish momentum, we might see a bullish reversal.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY is trading flat today inside the previous day’s range. The pair might resume the bearish movement to target the 200.00 – 200.50 area. On the lower side, there is a bullish trendline to watch too when a bearish correction happens. As long as the pair could print new higher swing high and higher swing low, there is no change to the long-term bullish trend.
Today’s Critical level to watch:
Support: 200.50, 200.00, 198.00, 193.50, 190.00
Resistance: 208.86
GBP/CHF
GBP/CHF has broken above the green box area and the pair immediately continue the bullish movement with strong momentum. The pair soon will reach the previous swing high and test it. If the pair could climb and print a new higher swing high then the bullish trend will continue. On the lower side, the green box area will act as a support level when a bearish correction happens.
Today’s critical levels to watch:
Support: 1.1225, 1.1200
Resistance: 1.1360, 1.1530, 1.1600, 1.1750