EUR/JPY
EUR/JPY is supported by the Fibonacci Retracement levels and currently trading sideways. The pair might continue to stick near the retracement area for now and traders will wait for strong bullish reactions. If the pair could bounce upward then traders could enter long positions. However, if the pair resumes the bearish movement and closes below the Fibonacci Retracement area then the trend will continue bearish for the medium-long term.
Today’s critical levels to watch:
Support: 171.51, 170.00
Resistance: 176.66
EUR/GBP
EUR/GBP closed lower yesterday and might continue the bearish movement to retest the 0.8400 support level. However, the pair does not continue the bearish movement today and currently moving upward again. The pair will attempt to resume the bullish movement and print a new higher high to reverse the current bearish trend. On the lower side, if the pair closes below 0.8400 and forms a new lower swing low then the bearish trend will continue.
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 holding out near the 198.00 support level and might trade sideways for now. On the upside, 200.00 – 200.50 is the area to watch for bearish reactions. Traders will expect the pair to continue the bearish movement to target the 193.05 level. A close above 200.50 will turn the trend bullish for short-term. As the pair has formed a new lower swing low, traders will stick with bearish positions when the pair retest resistance level.
Today’s Critical level to watch:
Support: 200.50, 200.00, 198.00, 193.50, 190.00
Resistance: 208.86
GBP/CHF
GBP/CHF show bearish reaction inside the green box area and currently trading lower. If the pair could erase two days bullish gain then the bearish trend will continue. On the upside, if the pair could close above the green box area then the trend will turn bullish again. We expect the pair to continue the bearish trend and print new lower swing low on the chart.
Today’s critical levels to watch:
Support: 1.1225, 1.1200
Resistance: 1.1360, 1.1530, 1.1600, 1.1750