EUR/JPY
EUR/JPY trading upward with strong momentum after bouncing from the 140.50 support level. The bullish pressure might continue and target the 148.50 – 151.50 resistance area. Traders will avoid shorting the pair for now and wait for further reactions. When the pair print a new higher high, it is the confirmation of further upward movement. On the lower side, a close below 140.50 and a new lower low will confirm the bearish reversal.
Today’s critical levels to watch:
Support: 140.50, 137.40, 135.00
Resistance: 142.75, 145.00, 148.50, 151.50
EUR/GBP
EUR/GBP building floor at the 0.8750 support level. The pair hovering above it and waiting for further confirmation. If the pair trades upward then it will target the 0.8900 and 0.9000 resistance levels. A close above 0.9000 is a major bullish confirmation. Meanwhile, if the pair close below 0.8700 then the bearish trend will continue.
Today’s critical levels to watch:
Support: 0.8750, 0.8700, 0.8600, 0.8580
Resistance: 0.8900, 0.9000
GBP/JPY
GBP/JPY gaining bullish pressure and currently trading near the 164.00 level. If the pair could break out and close above the level then the bullish trend could continue. At the current time, traders will monitor the pair reactions near 164.00 or inside the 161.00 – 164.00 area. Failure to breakout and close above 164.00 will bring the pair back into consolidation movement.
Today’s Critical level to watch:
Support: 156.58, 153.50
Resistance: 161.00, 164.00, 168.50, 170.00
GBP/CHF
GBP/CHF has not made a clean breakout above the trendline which means no confirmation yet on the next direction. The consolidation between 1.1200 and the trendline will continue and traders will wait for a breakout. If the pair close below 1.1200 and print a new lower low then the bearish trend will continue. On the upside, a strong bullish breakout and close above the trendline will confirm upward movement to target 1.1530 and 1.1600.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750