EUR/JPY

EUR/JPY finally broke out below the 50% Fibonacci Retracement level with moderate bearish momentum. The pair might be ready to resume the long-term bearish trend to target a new lower swing low. Under the current situation, the pair needs to print a new lower swing low to confirm the bearish trend.

Today’s critical levels to watch:

Support: 163.00, 160.00, 155.00, 154.00

Resistance: 165.00

EUR/GBP

EUR/GBP closed below 0.8325 and continued the bearish pressure today. No new lower swing low printed yet which means the consolidation near 0.8325 is still ongoing. Traders will monitor the pair movement near the current level for now. As mentioned before, the next lower swing low or higher swing high will confirm the pair’s 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 fell below the 198.00 level again today with moderate bearish pressure. The pair might have formed a double-top pattern which is a bearish pattern. It needs to break the neckline to confirm the start of the new bearish leg. Traders will use the chance to enter short positions with a stop above the double-top pattern.

Today’s Critical level to watch:

Support: 198.00, 195.00, 193.50, 190.00

Resistance: 200.00

GBP/CHF

GBP/CHF is under bearish pressure after the previous day’s bullish close. The pair has not left the 1.1100 – 1.13610 range yet which means the situation is sideways. Traders will wait for a breakout and close outside of the range to confirm the next direction. Meanwhile, traders could continue to use the range to do range trading strategies.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400