EUR/JPY

EUR/JPY looks making a bullish breakout above the trend line today. However, the pair might reverse and close inside the triangle area again as we are nearing major news releases. CPI data and PPI data on the line this week, and FOMC interest-rate next week. We expect the pair to continue the ranging movement inside the triangle area for now.

Today’s critical levels to watch:

Support: 163.00, 160.00, 155.00, 154.00

Resistance: 165.00

EUR/GBP

EUR/GBP breakout higher above the 0.8400 – 0.8430 area. The pair surpass four weeks range and might attempt to target the 0.8500 – 0.8525 levels now. If the pair could break out above it then there is chance of bullish continuation to target 0.8700 – 0.8750 area again. Traders will monitor the pair reactions near the resistance levels for now.

Today’s critical levels to watch:

Support: 0.8430, 0.8400, 0.8325

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

GBP/JPY

GBP/JPY stick inside the triangle area and now keep testing the top of range. A breakout is imminent as the triangle range tighten. Traders will wait until breakout and close outside the range happen with strong momentum to determine the next direction. Under current situation, staying flat might be the best choice to take.

Today’s Critical level to watch:

Support: 193.50, 190.00, 188.00

Resistance: 195.00, 198.00

GBP/CHF

GBP/CHF made a bearish attempt to breakout below 1.1060 today. However, the pair managed to defend the support level and a slight bullish bounce happen. No breakout, and no major bullish reactions yet which mean there is no change to the situation. If the pair could break out below 1.1060 with strong momentum, then the bearish trend will continue. On the upside, a breakout and close above 1.1200 might confirm a bullish reversal.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0600, 1.0500

Resistance: 1.1200,