EUR/JPY

EUR/JPY is slightly lower but maintains the position near the 50% Fibonacci Retracement level. The pair’s next direction will depend on whether it could print a new higher swing high or lower swing low. On the lower side, the pair need to move down below 161.50 to confirm a new lower swing low. At the current time, traders will observe the market reactions after the U.S. election and FOMC meeting.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP closed above 0.8400 with moderate bullish momentum. However, the bullish movement only lasted for a short while as the price pushed lower and closed below 0.8400 again. Consolidation inside the 0.8325 – 0.8400 might resume and traders better await for close outside of the range. Will the pair form a new higher swing high or lower swing low to confirm the next direction?

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY made a bearish movement below the 198.00 level which might indicate a bearish correction. However, the pair also made a weekly bullish close near the 198.00 level. It means the situation has not changed yet as the pair might consolidate near 198.00. Traders will wait for further reactions near the resistance level. If the pair gets rejected and resumes the bearish movement then we might see an attempt to print a new lower swing low. On the other hand, if the pair continues the bullish movement and prints a new higher swing high then the upward movement will continue.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00, 180.00, 178.70

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF pushed lower and tested the 1.1000 level. However, the bearish movement did not last, and the pair bounced from the support level. At the current time, the pair continues to stick near the 1.1200 – 1.1225 area. There is no major movement away from the area yet. As mentioned before, a new higher swing high or lower swing low will confirm the pair’s next direction.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400