EUR/JPY
EUR/JPY stay on the bullish side last week. However, the pair currently undergo bearish pressure which might bring the pair down to test the 154.00 – 155.00 area. No higher swing high printed yet in the latest bullish attempt. If the pair form a new lower low on the chart then the trend might turn bearish for short-medium term. Traders will continue to use each bearish attempt as a chance to add long positions unless there is a major change in BOJ stance.
Today’s critical levels to watch:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00, 162.87, 171.00
EUR/GBP
EUR/GBP has a confirmed higher high on the chart. At the current time, the pair looks will trade lower and test support levels. Traders will observe the bearish movement near the support level. If the pair could bounce and form a new higher low then the bullish trend is confirmed. On the other hand, if the pair close below 0.8580 – 0.8600 with strong bearish pressure and form a new lower swing low then the bearish trend will continue.
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY attempt at 182.45 has not resulted in a bullish breakout yet. The pair currently trades lower and might consolidate between the 178.50 – 182.45 area for now. Traders will wait for further confirmation this week, especially after the Fed interest-rate decision. The next direction might be confirmed by either closing above 182.45 or below 178.50.
Today’s Critical level to watch:
Support: 178.50, 172.00, 170.00, 168.50
Resistance: 182.45
GBP/CHF
GBP/CHF is mostly lower below the 1.1200 support level and also the broken trendline. The pair might stay bearish and there is no reason to turn bullish for now. Traders will stay at the sideline and wait near the 1.1200 level. If there is a strong bearish reaction when a retest happens then traders could enter short positions with a stop above 1.1300.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750