EUR/JPY
The pair is currently trading upward following a bullish close in the previous session. It has climbed above recent highs and may attempt to erase the losses incurred during last week’s trading. Despite this recovery, the broader outlook remains bearish, and the current upward movement is viewed primarily as a retest of previous levels. However, this bearish scenario would be invalidated if the pair prints a new higher swing high. Looking at the chart, the price is currently testing resistance levels that will be critical in determining whether the downtrend resumes.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
The pair is currently on a path lower, showing a clear intention to test the multiple lows identified on the chart. The technical setup confirms the ongoing bearish sentiment for this cross, as it continues to struggle for upward momentum against key support zones. A breakout below the multiple lows will confirm test on the 0.8580 – 0.8600 area.
Today’s critical levels to watch:
Support: 0.8600, 0.8580
Resistance: 0.8700, 0.8750, 0.8800, 0.8850, 0.8920
GBP/JPY
Similar to the price action observed in EUR/JPY, this pair has nearly erased all the declines seen last week. The market is currently at a pivotal point; while the immediate trend shows a recovery, the bearish outlook holds unless a new higher swing high is established. Traders are watching these levels closely to see if the recent upward momentum can be sustained or if the bearish trend will regain control.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
The pair has printed a new higher swing high, climbing above the 1.066 level, which confirms a bullish continuation. As seen on the chart, the breakout is significant, and market participants are now waiting for the daily close to confirm the validity of this move before positioning for further gains.
Today’s critical levels to watch:
Support: 1.0600, 1.0500, 1.03599
Resistance: 1.0660, 1.0800