EUR/JPY
The EUR/JPY pair continues its upward movement, almost completely erasing the bearish trend seen in the previous week. The pair is currently gathering strength, partly supported by market positioning ahead of the upcoming European Central Bank (ECB) interest rate decision expected on June 11. The critical question moving forward is whether the pair will erase the remainder of its losses and establish a sustained bullish continuation, or if it will face resistance at current levels and reverse to print a new lower swing low. Looking at the chart, traders are closely monitoring immediate resistance to see if buyers can maintain this momentum.
Today’s critical levels to watch:
Support: 183.40
Resistance: 185.84, 190.00
EUR/GBP
EUR/GBP recently tested its multiple structural lows, but no definitive breakdown has occurred. While there have been slight bullish reactions from these support areas, the upward momentum remains relatively weak. With the ECB’s rate decision looming, market participants will likely remain cautious. Traders are expected to continue observing the price action closely to gauge the true strength of this defense before committing to new directional positions.
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 in EUR/JPY, GBP/JPY is making a notable bullish attempt. The pair has bounced from its recent lows, mirroring a broader recovery against the Yen. Market focus remains on whether this upward move can carve out a clean path higher or if it will face rejection near previous key structural zones. If buyers maintain control, a test of higher resistance levels is imminent, but any sudden shifts in Bank of Japan policy expectations or broader risk sentiment could quickly disrupt the rally.
Today’s Critical level to watch:
Support: 211.50, 210.00, 208.00, 207.00
Resistance: 214.965
GBP/CHF
The path upward has firmly opened for GBP/CHF as the pair successfully extends its bullish movement. Having cleared immediate overhead pressure, the pair looks poised for further expansion. If the market experiences no major bearish reactions or sudden reversals, the price action suggests the pair could reasonably continue its rally toward the psychological 1.0800 target level.
Today’s critical levels to watch:
Support: 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.0800