EUR/JPY

EUR/JPY bearish pressure has reached the 148.50 – 151.05 area today. We have a major bearish movement but immediately recovered to the opening level. It seems BOJ will start rising interest-rate to cope with other central bank rate increases. EUR/JPY situation could turn bearish for the medium-long term after this event. Traders will monitor closely the pair reactions near the current level. If the pair fails to climb and print a new higher high then the trend might turn bearish.

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 trade below the 0.8580 – 0.8600 area and get rejected from the area today. The pair might continue the bearish trend to target a new lower low on the chart. When a new lower low is printed then the trend will continue bearish for the medium-long term. On the other hand, a close above the 0.8580 – 0.8600 area and a new higher swing high will cancel the bearish outlook.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY pushed lower below the 178.50 support level today. Despite the situation, the pair could recover above the level and move above the opening level. As mentioned in the previous analysis, the pair needs to make a breakout and close outside of the 178.50 – 182.45 area to confirm the next direction. Traders will continue to monitor the pair reactions inside the area for now.

Today’s Critical level to watch:

Support: 178.50, 172.00, 170.00, 168.50

Resistance: 182.45

GBP/CHF

GBP/CHF sideway movement continues and there is no confirmation yet on the next direction. The pair moving upward with strong bullish momentum today but not new higher high printed on the chart yet. Without any new higher high or close above 1.1200 then the consolidation will continue. Traders will continue “Wait and see” for now.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750