EUR/JPY

EUR/JPY continue the bearish movement after the close below the 140.50 level. The pair might continue moving lower to target 137.40 or the trendline. At the current time, it seems the short-term trend is sideways as the market awaiting the Fed FOMC meeting this week. In the long-term, we still think the pair could continue the bullish trend and target a new higher high.

Today’s critical levels to watch:

Support: 137.40, 135.00, 134.50

Resistance: 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP got rejected from the 0.8580 – 0.8600 resistance area and currently trades near the 0.8500 support level. We might see EUR/GBP ranging near the level while the market waits for FOMC interest-rate decision this week. There are two views based on the current event in the pair. Traders could regard the current movement as bearish as the pair broke below the 0.8580 – 0.8600 area and failed to reclaim it in the previous retests.

The second view sees the pair managed to maintain the 0.8400 support level and there is no lower low printed which means the bullish trend is still intact.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600, 0.8700

GBP/JPY

GBP/JPY range continues to tighten as the pair trading near the 164.00 level. Traders will wait for a breakout from the triangle consolidation to determine the next direction. We think a bullish breakout has a higher chance to happen as the long-term trend is bullish. However, traders will keep the bearish breakout option open too.

Today Critical level to watch:

Support: 164.00, 161.00

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF made a bearish close below 1.1600 and printed a new lower low last week. There is no bearish continuation in today’s trading session as the pair traded upward to the 1.1600 level. Traders might see the pair continue trading near the 1.1600 level for now as the market awaits the FOMC meeting this week.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125