EUR/JPY

The bearish continuation is happening now as EUR/JPY continues the downward movement. The pair have left the Fibonacci Retracement levels and now will attempt to target a new lower swing low. However, if the pair could move upward and print a new higher swing high then the situation could turn bullish again. Traders could use a bullish correction in the pair as a chance to enter short positions near the Fibonacci Retracement levels.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP turned bullish again as the pair closed above 0.83250. No higher swing high printed yet which means no change to the pair’s bearish situation. Will the pair turn lower again and print a new lower swing low to resume the bearish trend? Alternatively, will it move upward and print a new higher swing high to reverse the current bearish trend?

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY pushed lower and printed a new lower low today. The pair will continue the bearish movement to target 188.50 and lower. If the 188.50 support level is broken to the downside then we could expect the continuation of the bearish trend to target a new lower swing low. On the upside, a close above 198.00 or 200.00 could become a bullish reversal indication.

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF got rejected from the 1.1200 resistance level and made a bearish close yesterday. The pair might attempt to break below the 1.1100 level to confirm a new bearish leg. No change to the pair situation yet which is trading inside the 1.1100 – 1.1360 area. Traders will continue to use the range to do a range trading strategy until a breakout happens.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400