EUR/JPY

A major bullish reversal reaction happens in EUR/JPY today. The pair launch upward and might close the day as a bullish engulfing pattern. The pair might continue upward and test 121.50 resistance at the end of this week or next week. Will the pair break above 121.50 and continue upward? Alternatively, will it get rejected and resume its bearish trend below 121.50?

Support: 120.00

Resistance: 121.00, 121.50, 122.00

EUR/GBP

EUR/GBP closed lower in the previous trading day but not a decisive bearish close. The pair show bullish reaction today after lower low printed below yesterday low. It seems EUR/GBP averted further bearish pressure and might start moving up again. 0.9000 is the nearest resistance followed by the trendline.

today critical levels to watch:

Support: 0.8920, 0.8900

Resistance: 0.9000

GBP/JPY

GBP/JPY continue limited below 135.00 yesterday but finally the pair climb above the resistance today. A close above 135.00 will bring the pair to trade between 135.00 – 136.00 until next direction settled. GBP/JPY might also climb toward the top trendline before any major bearish reversal.

Today Critical level to watch:

Support: 135.00, 134.00

Resistance: 136.00, 137.40

GBP/CHF

GBP/CHF distanced itself from 1.2300 and the top of the channel today. The pair might have secure an important bullish movement and might start a new bullish leg. But, traders still need to wait for the pair daily candlestick close first. A sudden reversal and bearish close below 1.2300 by the end of the day will cancel the bullish outlook.

Even though the pair might start to turn bullish, next week FOMC could suddenly change the overall situation. Traders must proceed with caution next week.

Today critical levels to watch:

Support: 1.2300

Resistance: 1.2500