EUR/JPY

EUR/JPY made a bearish close yesterday and there is a bearish continuation today. The pair will retest the 134.50 – 135.00 support area and traders will wait for a reaction. If the pair could bounce from the level and continue upward to close above 137.40 then the bullish trend will continue.

However, if a sharp bearish movement happens and is followed by a close below 133.50 then we are set to test the 131.50 – 132.00 area or lower.

Today’s critical levels to watch:

Support: 135.00, 134.50, 132.00, 131.50

Resistance: 137.40, 140.50

EUR/GBP

EUR/GBP tested the 0.8580 – 0.8600 resistance area yesterday. The pair is slightly lower today but maintain the position not far from the resistance area. If the pair continues moving lower then 0.8500 is the support level where a bounce and higher low might formed. Traders will maintain long positions under the current situation as long as the pair continue printing higher high and higher low.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY pushed lower yesterday but no breakout below the 156.58 – 158.15 area yet. The pair might continue to consolidate near the current level and wait for further reaction. Traders will wait for either bounce with a new higher high or a sharp breakout below 156.58 to confirm the next direction.

Today Critical level to watch:

Support: 158.15, 156.58

Resistance: 160.00, 165.00, 170.00

GBP/CHF

GBP/CHF broke below the 1.2125 support level and settled near 1.2000. The trend will continue to bearish and traders will watch 1.2125 as the resistance level now. When the pair make a bullish correction, traders could enter short positions near resistance levels.

Today’s critical levels to watch:

Support: 1.2000

Resistance: 1.2125, 1.2300