EUR/JPY

EUR/JPY extended the bearish movement last week and left the Fibonacci Retracement level. The pair is in a bearish direction again now and will target a new lower swing low. When the pair prints a new lower swing low, it will become a confirmation that the trend has turned bearish for the medium-long term. On the upside, if the pair could erase all of the loss and print a new higher swing high then the trend will turn bullish again.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP made a neutral close at the end of the week where the candle had a long tail to both sides. The pair might continue consolidating near the 0.8325 level and traders will wait for further confirmation. The same as before, a new higher swing high or lower swing low will confirm the pair’s 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 is under bearish pressure but has no breakout and has not closed below the 193.50 level yet. The pair might consolidate near the current level while attempting to break out and close below it. We maintain a bearish view of the pair for now as there is a higher chance of a bearish breakout. However, if the pair turns higher again and prints a new higher swing high then it is the time to switch to a bullish view.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF bounced from the 1.1100 level and printed a bullish engulfing pattern. The pair has not shown anything unexpected yet and maintained their position inside the 1.1100 – 1.1360 area. If there is no change to the situation, the pair could continue the bullish movement this week and target the 1.1360 resistance level again.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400