EUR/JPY

EUR/JPY made a strong bullish close yesterday and closed above 121.50 resistance level. The pair have not continued its bullish movement yet today. At the current time, there is bullish pressure but contained inside the previous day range. Will EUR/JPY continue its upward movement and target 123.30?

Today critical levels to watch:

Support: 121.50, 120.30, 120.00, 119.20

Resistance: 123.30

EUR/GBP

EUR/GBP launched upward and surpassed the 0.9000 resistance level yesterday. The upward movement has strong bullish momentum and could develop into a major bullish leg. Today, the pair has moved above the previous day high. Traders who have long positions could continue to hold the positions and target 0.9300 in the long-term.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

The bearish reaction from the 135.00 – 136.00 looks to take place and push the GBP/JPY pair lower. The pair currently testing the Friday low. If a close below the level happens then GBP/JPY set to move lower to target 132.50 – 133.00. Further weakness below the area will bring the pair lower to target 130.00.

Today Critical level to watch:

Support: 133.00, 132.50

Resistance: 135.00, 136.00

GBP/CHF

GBP/CHF rejected from the 1.1870 resistance level and formed a bearish engulfing pattern yesterday. The pair make further weakness below the pattern low and seems set to start a new bearish leg. Similar to the previous analysis, 1.1870 and 1.2000 will become the focus if the pair manage to return near it.

However, taking short positions near the levels is not suggested any more. If the pair could return near both levels then the current bearish outlook will be canceled.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867, 1.2000