EUR/JPY
EUR/JPY attempting to move upward but losing the bullish pressure. The pair is currently trading below the opening level and is set to test the previous week’s low. If the pair breaks lower then it will target the Fibonacci Retracement level. At the current time, the pair has not printed a new higher swing high which mean successful bearish attempt to print a new lower swing low will turn the trend into bearish.
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 is mostly bearish and continues the bearish movement toward 0.8400. The pair soon will reach the bearish target to test it. We might see a short-term bounce or consolidation near the level afterward. Traders could wait near the level for bullish reactions and a chance to enter long positions. However, traders will treat the long positions as speculative positions. When the pair reach a resistance level, traders could enter short positions on bearish reactions.
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 managed to climb and printed a new higher high on the chart but the pair could not maintain the bullish pressure and currently trading near the opening level. If the pair start moving lower then 198.00 is the support level to watch. Traders could prepare to enter long positions when there are bullish reactions from the support level.
Today’s Critical level to watch:
Support: 198.00, 193.50, 190.00
Resistance: 200.00
GBP/CHF
GBP/CHF continues trading inside the green box area and there is bearish pressure today. The pair might continue to consolidate inside the area and traders will monitor the pair’s movement. No change to the strategy traders could use. It is better to wait for a close outside of the area to confirm the next direction. As the current global market situation looks bearish, it seems there is a chance of a bearish breakout to continue the movement toward the 1.1200 – 1.2225 area.
Today’s critical levels to watch:
Support: 1.1360, 1.1225
Resistance: 1.1530, 1.1600, 1.1750