EUR/JPY is in trouble as it fell below the trendline. Today attempt to move back above the trendline experience rejection. It seems the pair will continue further lower at this rate next week. Traders who plan to enter short position might want to wait until the pair retrace upward before taking short positions.
Resistance: 121.00, 121.50, 122.00
EUR/GBP respected the bottom of its bullish channel though it manages to move outside. If the pair could settle inside the channel by the end of the week then we might see a bullish continuation in EUR/GBP. Otherwise, the pair will start moving lower to test 0.8920 support level.
today critical levels to watch:
Support: 0.8920, 0.8900
The bullish reaction at the bottom trendline continues upside today. GBP/JPY moving as high as 135.00 before turned lower. At the current time, the pair traded near its opening level. Despite the current upside in GBP/JPY the overall trend of the pair is bearish which suggesting traders to avoid long positions. It is better to look for short positions near the resistance.
Today Critical level to watch:
Resistance: 135.00, 136.00, 137.40
No luck for the bull yet in GBP/CHF. We have another rejection from the top of channel which confirms the pair will continue its bearish trend. As long as there is no breakout above the channel, traders must avoid long positions.
Today critical levels to watch:
Resistance: 1.2300, 1.2500