EUR/JPY

EUR/JPY is currently in a clear pause mode after the recent massive bearish drop. Specifically, the pair is heavily consolidating right around the 38.2% Fibonacci retracement level. Because BOJ  reportedly intervened in the currency market last week, traders are now waiting for official confirmation and signals of more action. As a result, the market has paused while it digests the recent volatility. Therefore, the next directional move depends entirely on incoming policy clues. Until then, the pair will likely continue trading inside this tight range.

Today’s critical levels to watch:

Support: 183.40

Resistance: 185.84, 190.00

EUR/GBP

EUR/GBP is trading mostly sideways during today’s session. Despite this temporary pause, the broader bearish bias remains undeniably intact. Therefore, the pair is fully expected to continue its downward movement in the coming sessions. Specifically, sellers will likely target the 0.8580 – 0.8600 support zone next. As a result, traders should remain patient and ride the current bearish wave. Consequently, any short-term bounces could simply offer better entries for sellers.

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 also stuck in a clear pause mode following the massive intervention drop. Specifically, the pair is currently consolidating near the 61.8% Fibonacci retracement level. Because the suspected BOJ intervention shook the entire JPY market, traders are now awaiting official confirmation and watching for any follow-up action. Therefore, the broader directional bias remains highly uncertain at this time. As a result, both bulls and bears are sitting tight and observing the price action. Until clear confirmation arrives, the pair will likely continue ranging.

Today’s Critical level to watch:

Support: 211.50, 210.00, 208.00, 207.00

Resistance: 214.965

GBP/CHF

GBP/CHF is currently under selling pressure during today’s session. However, the pair is managing to stay relatively close to the 1.0600 pivot level. Because the price is hovering near this key support, the broader picture remains uncertain. Therefore, traders will simply wait for more reactions before committing to new positions. A solid bounce here could revive the bullish setup. Alternatively, a clean breakdown below 1.0600 will quickly confirm the bearish reversal.

Today’s critical levels to watch:

Support: 1.0600, 1.0500, 1.03599

Resistance: 1.0660, 1.0800