EUR/JPY

EUR/JPY slowly turn upward after the bounce from the 148.50 support level. The pair currently consolidating between the 148.50 – 151.50 area and traders will continue to monitor the pair’s reactions. We think the pair could continue the bullish trend and print a new higher swing high. Traders will use each bearish correction as a chance to enter long positions for now. However, if the pair form a new lower low then it is time to scale out of long positions.

Today’s critical levels to watch:

Support: 148.50, 145.00, 142.75, 140.50

Resistance: 151.50

EUR/GBP

EUR/GBP broke below the 0.8580 – 0.8600 area and print a new lower low on the daily chart. The pair immediately make a bullish reversal today which could become a new bullish leg. On the upside, the pair needs to close above 0.8700 to reverse the current bearish trend. If the pair lost bullish pressure and get rejected from 0.8600 then the bearish trend will continue.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750, 0.8900, 0.9000

GBP/JPY

GBP/JPY was slightly lower today but it manages to print a new higher high. The trend might continue bullish and each bearish movement is a chance for traders to add more long positions. As long as the pair continue printing a new higher high and higher low, there is no reason for traders to enter short positions.

Today’s Critical level to watch:

Support: 170.00, 168.50

Resistance: 172.00

GBP/CHF

GBP/CHF has turned bullish after the climb above the broken trendline. The pair need to print a new higher high to confirm bullish continuation. On the upside, the 1.1530 – 1.1600 area will become the bullish target to watch. On the lower side, a close below the 1.1200 support level might become the trigger of a bearish continuation.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750