EUR/JPY

EUR/JPY closed near the 137.40 support level and seems will stick near it for now. Traders are monitoring the release of U.S CPI data today. Next week, there will be ECB interest-rate decision and the Fed FOMC meeting the week forward. EUR/JPY might continue trading sideway or under bearish pressure nearing both central bank interest-rate decisions.

Traders will observe the pair reactions near support levels for a chance to enter long positions.

Today’s critical levels to watch:

Support: 137.40, 135.00, 134.50

Resistance: 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP bounced from the 0.8400 support level and built more bullish pressure. The pair currently trading above 0.8500 and will attempt to close the week above it. Traders will monitor the closing level at the end of the week. If the pair could close above 0.8500 then there is a chance of bullish continuation toward the 0.8580 – 0.8600 area.

Today’s critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8580, 0.8600, 0.8700

GBP/JPY

GBP/JPY range tighten which means we are in a triangle consolidation. The pair will continue the ranging movement and traders will wait for a breakout from the range. The prevailing trend is bullish which suggests a bullish breakout has a higher chance to happen. Nevertheless, it is better to wait for closing out of the triangle range before deciding on the next direction.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF keep moving lower and reached the bottom of the 1.1600 – 1.1750 range. The pair will attempt to breakout and then print a new lower low to resume the bearish trend. Traders who have short positions from 1.1750 could continue to hold the positions while monitoring the pair reactions.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125