EUR/JPY

EUR/JPY trading upward again today and might form a bullish engulfing pattern at the end of day. The pair has a chance to continue the bullish movement toward the top of the triangle. We still wait for the pair to close outside the range to confirm the next direction. At the current time, traders could use the top of triangle and bottom of triangle to take ranging positions.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP turned lower after three day’s bullish close. The pair return inside the 0.8400 – 0.8430 area. It seems the pair might continue ranging inside the area and wait for confirmation on the next direction. No conclusion on the latest trend, as the pair upward movement seems got rejected from the broken trend line. The next lower swing low or higher swing high might start a new trend on the pair.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8430, 0.8500 , 0.8530, 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY sharply higher after the test on the bottom trend line. The pair maintain the range between the two trend line, which mean consolidation will continue. Under current situation, traders could trade the range or wait until breakout happen. When the pair breakout and close outside the range, traders might get confirmation on the next direction.

Today’s Critical level to watch:

Support: 193.50, 190.00, 188.00

Resistance: 195.00, 198.00

GBP/CHF

GBP/CHF bounced higher from the 1.1060 support level, which mean no breakout yet. The pair will attempt to move higher to retest the 1.1200 resistance level. Under the current situation, traders will assume the ranging situation to continue. If the pair breakout and close above 1.1200 it might cancel the rising wedge pattern. On the lower side, a breakout below 1.1060 will become the key to confirm the rising wedge pattern.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200,