EUR/JPY

EUR/JPY extended the bearish movement and is set to continue the bearish trend. The pair has fallen below the Fibonacci Retracement levels to target a new lower swing low. However, if the pair could turn upward again and print a new higher swing high then the situation could turn bullish again. Currently, traders could use the Fibonacci Retracement level as place to add short positions when the price reaches it.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP back under bearish pressure and fall with strong momentum today. However, the bearish pressure subsided and the pair make recovery toward the opening level. If the pair closed the day near the current level then we will have a bullish pin bar pattern. Nothing changed yet, the pair needs to print a new lower swing low or higher swing high to set the next direction of movement.

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 with strong bearish momentum yesterday but continues to be supported by the 193.50 level. The pair printed a new lower low today but it need to close below 193.50 to confirm a valid breakout. We maintain a bearish outlook on the pair but when the pair print a new higher swing high then it is time to assume that the pair will continue the upward movement to target the previous swing high.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF shows a bullish reaction near the bottom of the 1.1100 – 1.1360 area which means nothing out of expectation yet. The pair might continue the ranging movement between 1.1100 – 1.1360 and traders will continue make use of the range to take positions. When a breakout and close outside of the range happen, traders will get confirmation on the next direction of the pair.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400