EUR/JPY

EUR/JPY returned above 114.80 support level and attempting to recover its losses this week. If the pair continues the upward movement then 115.80 will become the resistance level to watch. We think the bearish trend in the pair will continue for medium-long-term for now.

Traders could prepare to enter short positions near the resistance when there are bearish reactions.

Today critical levels to watch:

Support: 114.80, 114.00

Resistance: 115.80, 116.00

EUR/GBP

Although there is bullish reaction in the pair yesterday and there is close above 0.8750, it is not a significant close. EUR/GBP continues to stick near the 0.8700 – 0.8750 area and will wait for further development. Without major bullish or bearish momentum from the area then the pair expected to continue its sideways movement.

today critical levels to watch:

Support: 0.8700

Resistance: 0.8750, 0.8862, 0.9000

GBP/JPY

GBP/JPY closed the previous trading day on the positive side, though it does not change the direction of the pair movement. At the current time, the pair is attempting to move higher and test the 132.50 level. We think there will be a bearish reaction from the level and GBP/JPY will continue lower toward 130.00.

Today Critical level to watch:

Support: 130.00, 128.20

Resistance: 132.50, 133.00, 134.50

GBP/CHF

No reaction from the 1.2000 support level yet, momentum dries out and GBP/CHF expected to continue its consolidation for now. Traders might want to continue to observe the pair reaction before placing any positions.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2120, 1.2300