EUR/JPY

EUR/JPY finally printed a bearish close yesterday and there is a bearish continuation today. The pair might extend the bearish movement and target the 140.50 level. Traders will wait near the level for bullish reactions and a chance to enter long positions. Without a bullish reaction, it is better to stay sideline for now.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP made a bearish close yesterday but not far from the 0.8500 – 0.8600 area. The pair might continue the consolidation inside the area. Traders will wait for a major close outside of the range to get confirmation on the next direction. If the pair continues to move lower then 0.8400 is the major support level to watch for a bounce.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY seems to start a bearish correction today as the pair move lower below two days’ low. Traders will monitor the 164.00 support level and the 161.00 level when the pair manage to reach it. If the pair form a major bullish reaction near both levels then traders could enter long positions.

Today Critical level to watch:

Support: 161.00, 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF was slightly lower after the test at the 1.2300 resistance level. The pair might start a new bearish leg and target the level below 1.2000. However, if the pair could close above 1.2300 at the end of the week then there is a chance of bullish continuation to print a new higher high.

Today’s critical levels to watch:

Support: 1.2125, 1.2000

Resistance: 1.2300