EUR/JPY

EUR/JPY fell below the triangle pattern which confirm the bullish fake out in the previous breakout. It seems the pair will continue the bearish movement now and traders could enter short positions. If traders enter short positions, then could place stop order above the latest swing high, as it will invalidate the bearish setup.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP under bearish pressure, but it continues to trade near the 0.8400 – 0.8430 area. No strong confirmation yet, but the bear still in control for now. If the pair could move higher with strong bullish momentum, then it will create a bearish fake out situation. A breakout and close above 0.8430 or above latest high will confirm bullish continuation. Safest way to trade this is wait until breakout and close above swing high happen to enter long positions or strong close below 0.8400 happen to enter short positions.

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 back between the two trend lines and between 188.00 – 193.50 area. The pair might consolidate with bullish bias for now and traders will wait for further confirmation. We might see the pair continue consolidating inside the area for now. Taking positions near the top or bottom of the range might be the best option for now.

Today’s Critical level to watch:

Support: 193.50, 190.00, 188.00

Resistance: 195.00, 198.00

GBP/CHF

GBP/CHF is supported by the 1.1060 – 1.1100 area for now. The pair might attempt to continue higher and breakout above 1.1200 to cancel the rising wedge pattern. The situation is 50:50 which mean it is better to wait for further confirmation. We favor bearish scenario and the things that will cancel the outlook is a close above 1.1200 with strong bullish momentum.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200,