EUR/JPY
EUR/JPY bounced from the 154.00 – 155.00 area and start moving upward. The pair has the potential to continue the bullish trend and traders will continue to hold long positions. If the pair moves lower instead then traders could use the 148.50 – 151.50 area for a chance to enter more long positions. Without any new lower low on the chart, there is no reason to turn bearish on the pair yet.
Today’s critical levels to watch:
Support: 154.00, 151.50, 148.50
Resistance: 155.00, 160.00, 162.87, 171.00
EUR/GBP
EUR/GBP pushed lower and printed a new lower low on the chart. However, the pair managed to stage recovery before the end of the week. At the current time, the pair might continue trading near the 0.8580 – 0.8600 area and waiting for reactions. If the pair get rejected then it might resume the bearish trend. Meanwhile, a close above 0.8600 will confirm an upward continuation.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY bearish correction lasted for a short time. The pair has traded upward again and will test the 182.45 level. At the current time, the pair might continue trading between the 178.50 – 182.45 area and traders will monitor the pair reactions inside the area. If the pair could breakout upward and close above 182.45 then the bullish trend could continue. On the other hand, a close below 178.50 will confirm further bearish correction.
Today’s Critical level to watch:
Support: 178.50, 172.00, 170.00, 168.50
Resistance: 182.45
GBP/CHF
GBP/CHF sharply lower last week and almost reached the 1.1200 support level. The two latest candlestick close show a neutral close which means no decision yet on the pair’s next direction. If the pair continue lower then traders will observe the pair reactions near the 1.1200 support level. A strong bullish bounce from the support level could become a confirmation to enter long positions.
Today’s critical levels to watch:
Support: 1.1200, 1.0500, 1.0000
Resistance: 1.1530, 1.1600, 1.1750