EUR/JPY
EUR/JPY remains strongly bearish. We have mentioned the possibility of intervention by the BOJ; however, the bank may refrain from action as the current market situation is largely dominated by U.S. dollar strength. This trend has caused all yen pairs to drop while the USD/JPY pair maintains a strong bullish stance.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
EUR/GBP is currently under bearish pressure, having fallen below yesterday’s low, though it has recovered near that level for now. If the pair resumes its downward movement, the multiple lows are the support areas to watch. Looking at the chart, the pair is currently testing these critical structural boundaries, and sellers will likely be monitoring for a clean break.
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 exhibiting the same bearish situation as EUR/JPY. The pair is struggling against the broader trend in the yen-cross complex, and market participants are waiting to see if the decline will persist. If the bears continue the downward movement, 210.00 serves as the key level to watch. Traders who enter short positions will place stop order above 215.567.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
GBP/CHF made a bullish attempt and managed to print a higher high, but the pair is currently losing upward pressure. It remains inside the green box area, where testing is expected to continue. If you look at the chart, the pair is still consolidating within this identified range, awaiting a clear signal for the next move.
Today’s critical levels to watch:
Support: 1.0600, 1.0500, 1.03599
Resistance: 1.0660, 1.0800