EUR/JPY
EUR/JPY is under bearish pressure and recently printed a lower low, though the pair has managed a recovery to trade near yesterday’s low. We have previously noted the possibility of another BOJ intervention, and this current price action could serve as an initial sign of that volatility. Traders should remain cautious.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
EUR/GBP is trading upward today, but the price remains contained within yesterday’s range. The pair may resume its downward movement to test multiple historical lows. A decisive breakout will likely open a path for sellers toward the 0.8580 – 0.8600 target zone. On the upside, another retest on the trendline is chance for traders to enter short positions with stop above previous swing high.
Today’s critical levels to watch:
Support: 0.8600, 0.8580
Resistance: 0.8700, 0.8750, 0.8800, 0.8850, 0.8920
GBP/JPY
GBP/JPY is experiencing bearish pressure today, mirroring the technical situation observed in EUR/JPY. The market is currently consolidating after testing recent levels, and participants should monitor for potential volatility similar to the other Yen-denominated pairs. Ideally, the pair will start moving lower from the current level. But, there is possibility of the pair sweeping higher above the swing high before turning down.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
GBP/CHF is gaining strength above the 1.06000 level and is currently positioned at the top of the green box area. A breakout from this structure could happen, which would likely allow the pair to target the previous swing high. Under current situation, it is better to wait until actual reaction, either breakout or rejection happen before deciding to enter positions.
Today’s critical levels to watch:
Support: 1.0600, 1.0500, 1.03599
Resistance: 1.0660, 1.0800