EUR/JPY

EUR/JPY continues the bearish movement below the 171.51 which means it will target the previous swing low or the Fibonacci Retracement level shown on the chart. The weakness in the U.S. dollar was used by the BOJ to intervene and bring up the Yen. It seems the bearish movement could continue for now until the Fed FOMC meeting. Without any change, we might see a long-term trend change from bullish to bearish.

Today’s critical levels to watch:

Support: 171.51, 170.00

Resistance: 176.66

EUR/GBP

EUR/GBP hanging near the 0.8400 support level and shows bullish reactions today. The pair might continue to consolidate near the level and wait for further reactions. As mentioned before, if the pair continues moving lower below 0.8400 and print lower low then the bearish trend could continue. Both events already happened but the bearish close has no strong momentum which means no strong confirmation yet.

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 starts a pullback and will target the 200.00 and 200.50 levels. Traders will wait near both levels for bullish reactions. When there are bullish reactions, traders could enter long positions with a stop below the previous swing low. If the pair manages to continue lower and print a new lower swing low then the trend will turn bearish.

Today’s Critical level to watch:

Support: 200.50, 200.00, 198.00, 193.50, 190.00

Resistance: 208.86

GBP/CHF

GBP/CHF fall sharply toward the green box area. No higher swing high printed on the chart which means the pair failed to continue the bullish trend. If the pair break and close below the green box area then there is higher chance it will continue lower to test previous swing low. When the pair printed a new lower swing low then the trend will turn bearish for long-term.

Today’s critical levels to watch:

Support: 1.1225, 1.1200

Resistance: 1.1360, 1.1530, 1.1600, 1.1750