EUR/JPY

EUR/JPY made a strong bullish close yesterday near the 151.50 resistance level. A bullish breakout is imminent but today’s FOMC meeting could change any situation drastically. Traders and investors are expecting the Fed to stop raising interest-rate after lower inflation numbers. We think the pair could continue the bullish trend and will print a new higher high. Traders better avoid shorting for now until the pair loses upward momentum.

Today’s critical levels to watch:

Support: 148.50, 145.00, 142.75, 140.50

Resistance: 151.50

EUR/GBP

EUR/GBP failed to break out and close above the 0.8600 level and now starts moving lower again. The pair might form a new lower low in today’s trading session and target the next support level. Below the level, there is a 0.8400 major support level to watch for a bounce. At the current time, traders might want to stay sideline until the weekly close.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750, 0.8900, 0.9000

GBP/JPY

GBP/JPY keeps gaining and set to target the 178.50 level. The pair has not shown any weakness which means it is better to avoid short positions. As long as the pair continues moving upward, traders who have long positions will continue to hold the positions for now. If the pair start a bearish correction then traders could use the 172.00 level as a place to enter long positions.

Today’s Critical level to watch:

Support: 170.00, 168.50

Resistance: 172.00

GBP/CHF

GBP/CHF has turned bullish after the pair reclaim the level above the trendline. We have a new higher high and might see a breakout toward the 1.1530 – 1.1600 area. As the trend has turned bullish, traders will continue to add more long positions whenever the pair start a bearish correction. On the lower side, 1.1200 is the key level that must hold when a bearish attempt happens.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750