EUR/JPY
EUR/JPY continues under bearish pressure but no lower low is printed on the chart. It seems the pair might continue trading sideway with some bearish pressure until the Fed FOMC meeting this week. Will the pair continue the bearish movement and target the Fibonacci Retracement levels? Alternatively, will it resume the bullish trend and target a new higher swing high on the chart?
Today’s critical levels to watch:
Support: 167.14, 165.81, 163.00, 162.00, 160.00
Resistance: 170.00, 171.51
EUR/GBP
EUR/GBP extending the bearish movement and soon will reach the 0.8400 support level. There is no change in the pair’s bearish pressure and traders better avoid long positions until a bullish reversal happens. On the upside, 0.8500 is the resistance level to watch when a bullish correction happens. Traders will use the 0.8500 – 0.8530 area as a place to enter short positions when retests happen.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY is mostly higher and might attempt to target a new higher swing high. The pair situation is bullish following the strength in the U.S. dollar before the Fed FOMC meeting. When the pair prints a new higher swing high on the chart, it will confirm the continuation of the bullish trend. Meanwhile, if the pair form a bearish reversal and fall below the latest swing low then the pair might start a new bearish trend.
Today’s Critical level to watch:
Support: 198.00, 193.50, 190.00
Resistance: 200.00
GBP/CHF
GBP/CHF holding out inside the green box area and looks attempting to bounce upside. At the current time, the pair might continue consolidating inside the area and traders will monitor the pair’s movement. As long as there is no lower low printed on the chart, the pair could continue the bullish trend. However, a close below the green box area and a new lower swing low will confirm a long-term bearish reversal.
Today’s critical levels to watch:
Support: 1.1360, 1.1225
Resistance: 1.1530, 1.1600, 1.1750