EUR/JPY

EUR/JPY moving sideways without any major development. Traders could only wait for further development either a bearish rejection from the Fibonacci Retracement levels or a bullish continuation toward the higher level. We maintain a bearish outlook on the pair and expect the pair to resume the bearish trend in the medium-long term.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP was under bearish pressure and reached the 0.8325 level. The pair is currently trading between 0.8325 – 0.8400 and has no breakout from the range yet. As long as no breakout or new lower swing low / higher swing high then traders could continue to use the range to do range trading. At the current time, traders could enter long positions with tight stops below the previous swing low.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY sideways situation has not been completed yet. The pair is trading flat and no indications of the next direction. The same as EUR/JPY, traders better wait for further development either a bullish movement toward a higher retracement level or a bearish rejection with strong momentum. In the medium-long term, we maintain a bearish view of the pair and continue to suggest short positions to long positions.

Today’s Critical level to watch:

Support: 193.50, 190.00, 180.00, 178.70

Resistance: 195.00, 198.00, 200.00

GBP/CHF

GBP/CHF trapped inside the triangle pattern while supported by the 1.1200 – 1.1225 area. The pair made a bullish close yesterday with moderate momentum. There is a bullish continuation today but the pair relinquish most of the gain and might close the day near the opening level. At the current time, traders will continue waiting for a breakout from the range to confirm the pair’s next direction.

Today’s critical levels to watch:

Support: 1.1225, 1.1200, 1.1000, 1.0800, 1.0500

Resistance: 1.1360, 1.1400