EUR/JPY
EUR/JPY halted its drop not far from the lower trend line. The pair might stall or continue the downward movement and traders will wait near the trend line. When there is strong bullish reaction from the trend line, it is a sign for traders to add long positions. For now, it is better to wait sideline and see the reactions. If the pair manage to breakout below the trend line, print a new lower swing low, then the bullish trend officially turn bearish.
Today’s critical levels to watch:
Support: 173.00, 170.00, 166.50, 165.00, 163.00
Resistance: 175.00
EUR/GBP
EUR/GBP maintain the position inside the 0.8700 – 0.8750 area. The pair might consolidate inside the area and looking for attempt to breakout lower to test the trend line. However, there is chance of bullish breakout above the 0.8750 level too. Traders could use the 0.8700 and the trend line as a place to accumulate long positions. The stop level could be placed below 0.863 or 0.8600. A close below the trend line could become the signal to exit long positions, too.
Today’s critical levels to watch:
Support: 0.8700, 0.8600, 0.8580, 0.8530, 0.8500
Resistance: 0.8750
GBP/JPY
A swept below 198.00 happened today in GBP/JPY. It looks like the bull attempting to protect the level and close the day above the level. If the pair could bounce upward with strong momentum, then there is a chance of 200.00 retest. At the current time, traders who enter long positions could place a stop order below 195.00 or use a strong bearish close below 198.00 as a signal to exit.
Today’s Critical level to watch:
Support: 198.00, 195.00, 193.50, 190.00, 188.00
Resistance: 200.00
GBP/CHF
GBP/CHF range span between 1.0660 – 1.0800 now. A breakout and close outside the area will confirm the pair next direction. Under current situation, we still lean to bearish side as the pair continue printing new lower swing high and lower swing low. A close above 1.0800 will cancel our bearish outlook.
Today’s critical levels to watch:
Support: 1.0600, 1.0500
Resistance: 1.0800, 1.1000, 1.1200