EUR/JPY

EUR/JPY closed lower for the second day and might extend the weakness in today’s trading session. Despite the situation, traders will observe the market reactions toward the Fed interest-rate decision today. If the pair reach the 154.00 – 155.00 area and form a bullish reaction then there is a chance of a bullish reversal. However, after the FOMC meeting today, traders will closely observe BOJ interest-rate decisions at the end of the week. If BOJ makes a major change in the interest-rate policy then we might see a strong movement in EUR/JPY.

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 failed to maintain the position above the 0.8580 – 0.8600 area. The pair closed lower with moderate bearish momentum and might attempt to continue lower to print a new lower low. If the pair extend the bearish movement and printed a new lower low then the bearish trend will continue. On the other hand, if the pair could reverse the bearish pressure and climb to print a new higher high then the bullish trend could 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 is trading upward to target the 182.45 resistance level. The pair will attempt to breakout higher and print a new higher swing high. However, similar to the situation of EUR/JPY, it is better to wait until the BOJ rate decision this week to determine the long-term direction of the pair. The close outside of the 178.50 – 182.45 area might confirm the pair’s next direction.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF continues consolidating after the breakout below the 1.1200 support level. The pair will wait for further reactions after today’s FOMC meeting. If the pair continue moving lower and print a new lower low then traders will get the bearish continuation confirmation. On the upside, a close above 1.1200 could become a bullish signal.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750