EUR/JPY
EUR/JPY bearish movement stopped today as the pair started moving upward and surpassed Friday’s high. The pair will attempt to extend the bullish trend and target a new higher high. However, if the pair reverse the upward movement and start moving lower again to print a new lower low then traders will stay outside of long positions. As long as the pair continue printing more new higher highs and higher lows, there is no reason to turn bearish yet.
Today’s critical levels to watch:
Support: 163.00, 162.00, 160.00
Resistance: 165.81, 167.14
EUR/GBP
EUR/GBP makes a bullish movement toward the 0.8580 – 0.8600 area. The pair have not managed to break out and close above the area. At the current time, traders will wait for reactions from the area. If the pair could climb and close above the area and also print a new higher swing high then the bullish trend could continue. On the lower side, a new lower swing low will cancel the current bullish outlook.
Today’s critical levels to watch:
Support: 0.8400, 0.8325
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
GBP/JPY started a new bullish leg surpassing the previous Friday’s high. The pair currently will test the 193.50 level and traders will wait for reactions. No conclusion yet on the next movement. If the pair could climb and close above the current area then the bullish trend could continue. On the lower side, a new lower low will cancel the bullish outlook and bring the pair into a bearish trend.
Today’s Critical level to watch:
Support: 190.00, 188.50, 186.00, 184.00
Resistance: 200.00
GBP/CHF
GBP/CHF made three bearish closes on the daily chart after a new higher swing high. The pair might continue moving bearishly but there are bullish reactions today. When the pair could surpass Friday’s high, it might be able to continue the bullish movement. A new higher low is needed to confirm the continuation of upward movement toward the 1.1530 – 1.1600 area.
Today’s critical levels to watch:
Support: 1.1200, 1.1100
Resistance: 1.1530, 1.1600, 1.1750