EUR/JPY

Oil price war amid the coronavirus outbreak is not good news to hear. OPEC recently failed to secure a deal with allies on a production cut. There is no deal on the production cut which caused oil prices to tumble 30% today. The stock market worldwide pulled lower by the negative sentiment.

EUR/JPY opened lower and move further lower today as Japanese Yen gain strong momentum. It seems the pair will reach 115.80 support level soon.

Today critical levels to watch:

Support: 115.80

Resistance: 117.80, 119.20, 120.00

EUR/GBP

EUR/GBP boosted above 0.8700 and tested the 0.8750 resistance level. The pair immediately show bearish rejection sign and currently back near its opening level. No confirmation yet on the pair next direction. It might maintain the position near the resistance level while waiting for further reaction.

Traders might want to stay sideline for now. Or waiting for a bearish correction to enter long positions.

today critical levels to watch:

Support: 0.8600, 0.8500

Resistance: 0.8700, 0.8750

GBP/JPY

There is a major fundamental situation happening worldwide which caused the Japanese Yen to gain. GBP/JPY falls below 135.00 – 136.00 support area and in-threat of further weakness toward 130.00. The bull attempting to boost the price and return the pair above 135..00 – 136.00 area. If the bull could close the pair above 136.00 then a bounce may happen.

Today Critical level to watch:

Support: 130.00

Resistance: 135.00, 136.00

GBP/CHF

We are bearish in GBP/CHF until the pair reach the level near 1.20000. Today, the pair fell to as low as 1.2035 before it recovers most of the losses and trade near its opening level. GBP/CHF has a chance to reverse current bearish pressure and start moving higher to test 1.2300. At the current time, traders will observe the closing level of today’s trading session.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2300, 1.2500