EUR/JPY
EUR/JPY slowly moving upward without any major reactions in the pair. If there is no change, then the pair could continue the upward movement to reach the swing high and test it. If a bearish correction happens, then 170.00 might become the place where a higher swing low formed. Traders will wait for a bearish correction for a chance to enter long positions.
Today’s critical levels to watch:
Support: 170.00, 166.50, 165.00, 163.00
Resistance: 173.00, 175.00
EUR/GBP
EUR/GBP turned lower after the pair reached the level near 0.8700. It might continue the bearish movement toward the trend line and test it. If the pair could maintain the position and bounce from the trend line, then trades could enter long positions with stop below 0.8580. As the pair continue printing new higher high and higher low, it is better to avoid shorting the pair.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY continue to maintain the position above 198.00 and there is bullish movement today. Though bullish, it seems the pair is consolidating below the 200.00 level. After the consolidation, it could either break out sharply above 200.00 or turn lower below 198.00 again. At the current time, the pair is climbing with higher high and higher low, so the odds is higher for bullish breakout.
Today’s Critical level to watch:
Support: 195.00, 193.50, 190.00, 188.00
Resistance: 198.00, 200.00
GBP/CHF
GBP/CHF made a bullish correction toward the 1.0800 level before it could reach the previous swing low. As mentioned before, if the pair make a bullish correction to retest 1.0800, traders could use it as a chance to enter short positions. A stop order could be placed above 1.0870 or better at 1.1015 in case of stop hunt above 1.0870. (A close above 1.0870 will be observed to determine if the bearish trend will continue or the structure already broken.)
Today’s critical levels to watch:
Support: 1.0600, 1.0500
Resistance: 1.0800, 1.1000, 1.1200