EUR/JPY

EUR/JPY looks moving back inside the triangle pattern and the 162.39 level. We could say, the market looks indecisive, and It’s heavily sideways with some breakout which could turn into false breakout. Under current situation, it might be better to observe the pair reactions for now and stay sideline until movement with strong momentum happen.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP continue trading between the 0.8400 – 0.8430 area for several days and no sign of breakout from the range yet. The pair might continue trading sideways and traders will wait for breakout and close outside the range. We favor bullish breakout and retest of 0.8700 – 0.8750 area. However, if the pair breakout lower and print a new lower swing low, then the situation will turn neutral again.

Today’s critical levels to watch:

Support: 0.8400

Resistance: 0.8430, 0.8500 , 0.8530, 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY has returned inside the 188.00 – 193.50 area again, which mean the situation back to neutral. The pair also trading back between the two trend lines which is no clear direction. However, the latest movement formed higher high and higher low, which mean the bull still has control. If the pair could continue printing new higher high and higher low, there is chance of bullish continuation.

Today’s Critical level to watch:

Support: 193.50, 190.00, 188.00

Resistance: 195.00, 198.00

GBP/CHF

GBP/CHF trading between 1.1060 – 1.1200 for now and waiting for reactions. We have an unconfirmed rising wedge pattern, where a breakout lower will confirm bearish continuation. At the current time, traders who want to speculate, could enter short positions with tight stop above 1.1200. On the lower side, 1.0800 will become the bearish target to watch.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200,