EUR/JPY

EUR/JPY hanging near the high and currently consolidating between 135.00 – 137.40. If a bearish movement will happen then it will happen with strong bearish momentum more than the previous drop. As long as there is no close below 131.50, the trend will continue to bullish. On the upside, the pair need to breakout above 137.40 to confirm a 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 consolidating near the 0.8500 level for now. The pair has not printed a higher swing high as it got rejected from the 0.8580 – 0.8600 area. We think the pair will continue the upward movement from the current level and target 0.8700 in the medium-long term.

Today’s critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8580, 0.8600

GBP/JPY

GBP/JPY bounced from the 158.15 support level but no higher swing high was printed on the chart yet. The pair will continue trading sideways for now. Traders will continue to hold long positions with stops below the previous swing low or below 156.58. There is no reason to turn bearish as long as the pair stays above 156.58.

Today Critical level to watch:

Support: 158.15, 156.58

Resistance: 160.00, 165.00, 170.00

GBP/CHF

GBP/CHF bounced from the 1.2000 support level and attempted to move upward above the 1.2125 resistance level. The pair could not return above the level and might close the week below it at the end of the week. A consolidation between 1.2000 – 1.2125 will happen and traders will wait for breakout from the range to confirm the next direction.

Today’s critical levels to watch:

Support: 1.2000

Resistance: 1.2125, 1.2300