EUR/JPY

EUR/JPY movement is like a roller-coaster with high volatility. The pair stage a bullish movement above the 135.00 level but immediately receive a bearish reaction of the same multitude yesterday. At the current time, the pair is attempting to return above the 135.00 level and resume the bullish movement.

Traders will monitor the pair movement inside the bearish channel shown on the daily chart. The pair needs to break out above the channel to confirm bullish continuation.

Today’s critical levels to watch:

Support: 135.00, 134.50, 132.00, 131.50

Resistance: 137.40, 140.50

EUR/GBP

EUR/GBP bounce from the 0.8400 resulted in an upward movement and close near the 0.8500 level. No breakout from the resistance level yet. At the current time, the pair might continue trading near the level, waiting for further bullish momentum. If the pair could breakout and close above 0.8500 then we might see a bullish continuation toward the 0.8580 – 0.8600 area.

Today’s critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8580, 0.8600

GBP/JPY

GBP/JPY upward movement from the 156.58 – 158.15 area managed to print a close near 160.00. However, the pair experienced bearish pressure yesterday and closed near the 156.58 level. Fortunately, there is no bearish follow-through today as the pair bounced from the support level. If the pair could continue to build bullish pressure and print a new higher high then the bullish trend could continue.

Today Critical level to watch:

Support: 158.15, 156.58

Resistance: 160.00, 165.00, 170.00

GBP/CHF

GBP/CHF pushed lower with strong bearish momentum and there is bearish follow-through below 1.2125. A new lower low was printed on the chart but the pair manage to recover above 1.2125. Without a close below 1.2125 or a previous swing low, there is no confirmation that a bearish breakout will continue into a bearish continuation.

Today’s critical levels to watch:

Support: 1.2125, 1.2000

Resistance: 1.2300, 1.2416, 1.2500