EUR/JPY

EUR/JPY continues under bearish pressure today and testing yesterday’s low. The pair area moving near the Fibonacci Retracement level where it might get supported. No bullish reactions yet which means it is better to stay sideline and watch the pair reactions. If the pair continues moving lower then it will target the trendline for a retest. Failure to bounce and a new lower swing low will confirm the bearish reversal.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00, 151.50, 148.50

Resistance: 162.00, 163.00

EUR/GBP

EUR/GBP was mostly lower, continuing the bearish trend below the 0.8580 – 0.8600 area. The pair will attempt to print a new lower low on the chart to confirm the long-term bearish continuation. If the pair manages to recover and start a bullish movement, traders will wait near the resistance level for bearish reactions. When there are bearish reactions, traders could enter short positions.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY is trading lower and pressuring the 188.50 support level at the moment. The pair will attempt to break out below the support level and print a new lower low on the chart. If the bearish pressure continues to mount and a new lower low is printed on the chart then the bearish movement could continue toward 182.45. However, if the pair manages to bounce and print a new higher swing high then the bullish trend could continue.

Today’s Critical level to watch:

Support: 188.50, 186.00, 184.00, 182.45, 178.50

Resistance: 190.00

GBP/CHF

GBP/CHF extended the bullish movement above the 1.1225 level and now has printed a new higher swing high. The pair will attempt to maintain the bullish pressure and close above 1.1200 at the end of the week. The long-term trend might have changed from bearish to bullish and traders could wait for a bearish correction. When a bearish correction happen and the pair could bounce from support level, traders could enter long positions.

Today’s critical levels to watch:

Support: 1.1100, 1.1060, 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750