EUR/JPY

EUR/JPY is mostly sideways below the 50% Fibonacci Retracement level. There are no major reactions yet but we still think the pair could resume the bearish movement. If the pair falls below the Fibonacci Retracement level and forms a lower swing low then the bearish trend could continue. On the upside, if the pair could climb and print a new higher swing high then the trend will turn bullish.

Today’s critical levels to watch:

Support: 163.00, 160.00, 155.00, 154.00

Resistance: 165.00

EUR/GBP

EUR/GBP was rejected from the 0.8325 level and made a bearish close yesterday. Despite the bearish reactions, there is no bearish follow-through in today’s trading session. The pair might trade sideways near the current level while waiting for a bearish continuation or close higher high above 0.8325.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY continues trading sideways near the 198.00 level. There is no confirmation on where the pair will move next. We could see the range continue to tighten which means the situation is sideways. Traders will wait for the breakout from the range to confirm the next direction. If we look at the 2024 range, we could say the pair is trading in the middle of the range right now.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF halted its drop near the 1.1225 level yesterday. The pair sideways situation will continue with it ranging between 1.1100 – 1.1360. Not much traders could do for now aside from range trading between 1.1100 – and 1.1360. Alternatively, traders could wait for a close outside of the range to confirm the next direction.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400