EUR/JPY

EUR/JPY is taking a noticeable breather after yesterday’s massive bearish drop. Specifically, the pair is now stalling right at the 50% Fibonacci retracement level (183.78). Because volatility has dramatically dried up, the market is digesting the recent BOJ-driven move. As a result, the broader bullish structure is officially under serious pressure. Therefore, the next daily candle becomes absolutely crucial for direction. If sellers regain momentum, the pair will easily target the 23.6% Fibonacci level next. Conversely, a strong bullish recovery could quickly invalidate the bearish setup.

Today’s critical levels to watch:

Support: 183.40

Resistance: 185.84, 190.00

EUR/GBP

EUR/GBP has finally pushed lower toward our anticipated downside target zone. However, the pair is now stalling right above the major 0.8600 psychological support. Because the price is consolidating exactly where bears wanted, the next reaction is critical. Therefore, traders are watching for either a clean breakdown or a sharp bounce. If sellers force a decisive close below 0.8600, deeper losses toward 0.8580 become the immediate target. On the other hand, a strong bounce here could trigger a relief rally back toward 0.8700.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750, 0.8800, 0.8850, 0.8920

GBP/JPY

GBP/JPY is stalling significantly after yesterday’s massive intervention-driven drop. Specifically, the pair is currently consolidating right near the 61.8% Fibonacci retracement level & Trend line. Because the recovery has lost steam, the broader picture remains uncertain. Therefore, the bulls absolutely need to step up immediately to defend their territory. If buyers regain control, the pair will likely climb back toward the ascending blue trend line. Alternatively, a fresh bearish push will easily target the 38.2% Fibonacci level at 210.17.

Today’s Critical level to watch:

Support: 211.50, 210.00, 208.00, 207.00

Resistance: 214.965

GBP/CHF

GBP/CHF is showing classic “stall after a major move” price action right now. Specifically, the pair printed a sharp rejection from the 1.0661 resistance level recently. As a result, the price has dropped back inside the green box consolidation area. Because momentum has stalled, the market is heavily indecisive once again. Therefore, the situation remains exactly as we previously outlined. Specifically, a definitive close above 1.0661 confirms the bullish continuation. Meanwhile, a clean break below the green box quickly confirms the bearish reversal.

Today’s critical levels to watch:

Support: 1.0600, 1.0500, 1.03599

Resistance: 1.0660, 1.0800