EUR/JPY

EUR/JPY has reached the 148.50 – 151.50 area and completed the bullish target. It seems a bearish correction is underway and traders could use it for a chance to enter long positions at a lower level. At the current time, 148.50 is the support level to watch. If a bearish breakout happens below the level then EUR/JPY could fall toward 142.75. Nevertheless, traders could continue adding more long positions as long as the pair continue printing a new higher high and higher low.

Today’s critical levels to watch:

Support: 145.00, 142.75, 140.50

Resistance: 148.50, 151.50

EUR/GBP

EUR/GBP bounced from the level near 0.8750 and start moving upward. There is no new higher high or new lower low which means the current trend is sideway. The next higher high or lower low will confirm the next direction of EUR/GBP. We think the pair has more odds to trade upside and suggest long positions with a stop below 0.8700.

Today’s critical levels to watch:

Support: 0.8750, 0.8700, 0.8600, 0.8580

Resistance: 0.8900, 0.9000

GBP/JPY

GBP/JPY reached the 172.00 level and produce bearish reactions. The current bullish movement has strong momentum and a bearish correction is due. If the pair is trading lower then it has downward room up to the green box area. When the bearish correction happens, traders could use the chance to enter more long positions at support levels.

Today’s Critical level to watch:

Support: 170.00, 168.50

Resistance:

GBP/CHF

GBP/CHF resume the bearish movement below the 1.1200 level after the bearish rejection. The pair might move lower and print a new lower low to confirm a long-term bearish continuation. On the upside, 1.1200 and the trendline will continue to become the resistance levels to watch.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750