EUR/JPY

EUR/JPY undergo a bearish correction and currently trading near the previous swing high. If the pair could print major bullish reactions at the current level then traders will expect a bullish continuation. On the other hand, if the bearish correction continues then it could target the 137.40 support level.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP finally breakout above the 0.8580 – 0.8600 resistance area to confirm the long-term bullish continuation. The trend finally turn bullish for the long term and traders could add more long positions on a bearish pullback. However, the pair need to maintain the current bullish pressure after the Fed interest-rate announcement this week. If the pair closed below 0.8600 at the end of the week then it could cancel the current bullish outlook.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY continues the bearish correction and almost reaches the 161.00 support level. As mentioned in the previous analysis, if the pair managed to reach 161.00 and form a bullish reaction then traders could enter long positions. On the lower side, as long as the pair stays above 156.58 then there is no reason to turn bearish yet.

Today Critical level to watch:

Support: 161.00, 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF is back under bearish pressure as the pair tests the 1.2000 support level. No major breakout yet, the pair might close the day near 1.2000 and stick near it until the Fed FOMC meeting this week. If a bearish breakout and close below 1.2000 happen then the pair could continue the long-term bearish trend.

Today’s critical levels to watch:

Support: 1.2125, 1.2000

Resistance: 1.2300