EUR/JPY

EUR/JPY bounced from the red trendline and managed to maintain a position above the 140.50 support level. The pair will attempt to continue the bullish trend and print a new higher high. Traders will monitor the pair reactions near the 140.50 level and the previous swing high. If the pair breakout and closes below 140.50 then we might see further weakness toward 137.40.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP stage a bullish movement with strong momentum yesterday. The pair is set to continue the upward movement toward the 0.8900 – 0.9000 area. However, the pair is under bearish pressure again today and trade near the 0.8750 level. If the pair could continue to maintain the position above the 0.8700 – 0.8750 area until the end of the week then we might see further bullish movement.

Today’s critical levels to watch:

Support: 0.8750, 0.8700

Resistance: 0.8900, 0.9000, 0.9300

GBP/JPY

GBP/JPY broke and closed below the 161.00 support level. It is a major bearish confirmation and might bring the pair down to test 158.15 and 156.58. However, the breakout was invalidated today as the pair move upward with strong bullish momentum. It seems the pair will continue the ranging movement between the 161.00 – 164.00 area.

Today Critical level to watch:

Support: 161.00, 156.58, 153.50

Resistance: 164.00

GBP/CHF

GBP/CHF made a bearish close yesterday and is set to extend the bearish movement to target 1.0500 and the parity level. However, if the pair continues moving upward and close above 1.1200 then the trend might turn from bearish to bullish. As long as the pair continue printing new lower low and lower high, traders better stick with the bearish side.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750