EUR/JPY
EUR/JPY attempting to bounce from the Fibonacci Retracement level and restart the bullish movement. However, the pair might continue under bearish pressure near the Retracement level for now. Traders will continue to monitor the pair reactions for now. If the pair could bounce upward, traders could enter speculative long positions with tight stops below the Retracement low. We expect the bearish movement to continue after a few bounces or consolidations above the Fibonacci Retracement level.
Today’s critical levels to watch:
Support: 171.51, 170.00
Resistance: 176.66
EUR/GBP
EUR/GBP started moving upward and finally punched above the previous week’s high. The pair will attempt to extend the bullish movement to target the 0.8500 – 0.8530 area. As mentioned before, a close above 0.8530 will confirm the long-term bullish reversal. Without any close above it, traders will expect the pair to get rejected near 0.8500 – 0.8530 and resume the bearish trend.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY closed below the 198.00 support level and formed a new lower swing low. It seems the pair will attempt to stick near the 198.00 level for now. If the pair resumes the bearish movement then 193.50 will become the bearish target to watch next. On the upside, 200.00 – 200.50 is the resistance area to watch for bearish reactions when the pair manage to reach it.
Today’s Critical level to watch:
Support: 200.50, 200.00, 198.00, 193.50, 190.00
Resistance: 208.86
GBP/CHF
GBP/CHF has closed below the green box area which means the bearish trend will continue. There is a bullish attempt toward the box area today but it might result in a bearish rejection. On the downside, the pair will target the previous swing low around 1.1200 – 1.2225. A close below the level or a new lower swing low will confirm the continuation of long-term bearish trend.
Today’s critical levels to watch:
Support: 1.1225, 1.1200
Resistance: 1.1360, 1.1530, 1.1600, 1.1750