EUR/JPY

EUR/JPY bounced from the 135.00 support level and managed to close near the 137.40. The pair is expected to maintain the bullish pressure and continue the bullish trend. Ont he upside, 140.50 is the bullish target traders will observe. If the pair start a bearish correction then traders could wait near support levels for a chance to enter long positions.

Today’s critical levels to watch:

Support: 135.00, 134.50

Resistance: 137.00, 140.00, 140.50

EUR/GBP

EUR/GBP officially enter a bullish trend after a major bullish movement above 0.8500. A new higher high printed on the chart and a major breakout above 0.8580 – 0.8600 will further solidify the current bullish trend. If the pair make a bearish correction then traders could use 0.8500 as a level to enter long positions.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY was slightly lower at the end of the previous week but no major confirmation that a bearish correction will happen. If the pair continues moving lower then 158.15 will become a bearish target to watch. We still think the bullish trend will continue and suggest traders wait near the support level for a chance to enter long positions. On the lower side, 158.15 and 156.58 are the levels to watch for a bounce.

Today Critical level to watch:

Support: 160.00, 158.15, 156.58

Resistance: 165.00, 170.00

GBP/CHF

GBP/CHF mostly ranges between the level 1.2125 – 1.2300 level. No breakout from the area yet but the pair is mostly under bearish pressure. Traders will continue waiting for a breakout from the range to confirm the next direction. Under the current situation, traders could use a ranging strategy until a breakout happen.

Today’s critical levels to watch:

Support: 1.2125, 1.2000

Resistance: 1.2300, 1.2416, 1.2500