EUR/JPY

EUR/JPY has reached the 167.348 level and produce bearish reaction today. The pair might consolidate near the level, or turn lower to retest the broken trend line. It seems the situation is bullish, but the next direction might depend on this week FOMC meeting. If there is bearish correction toward the trend line and there is bullish reaction, traders could speculate with long positions.

Today’s critical levels to watch:

Support: 165.00, 163.00, 160.00, 155.00, 154.00

Resistance: 166.50

EUR/GBP

EUR/GBP breakout higher and resume the bullish trend. The pair will target the 0.8700 – 0.8750 area again. If the pair turn lower and retest 0.8500 – 0.8525, then traders could wait for bullish reaction to enter long positions. The pair situation is bullish with new higher swing high and higher swing low. As long as the pair continue printing new higher high and higher low, it is better to stick with long positions.

Today’s critical levels to watch:

Support: 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY sideways situation seems to continue even though the pair at the end of triangle consolidation. Yesterday, the pair looks made a bullish breakout. However, the pair immediately reverse the movement and closed lower today. Under current situation, we could say it is a bearish engulfing pattern and the pair might continue lower. Traders might want to wait for confirmation to avoid fake out.

Today’s Critical level to watch:

Support: 193.50, 190.00, 188.00

Resistance: 195.00, 198.00

GBP/CHF

GBP/CHF bounced lower from the 1.1060 level and set to resume the bearish movement to target 1.0800 and lower. As mentioned before, when the pair breakout below 1.1060 then the trend will turn bearish again. Traders who has short positions will place stop order above 1.1100 or 1.1200.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0600, 1.0500

Resistance: 1.1200