EUR/JPY

EUR/JPY grinding upward following the weakness in the Japanese Yen after the Liberal Democratic Party lost the majority in the Senate. It seems the upward movement could continue for now and traders better stay sideline. When the pair reach a higher Fibonacci Retracement level and form bearish reactions, traders could consider entering short positions.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP is under bearish pressure today as the pair fall below 0.8325. However, the sideways situation has not changed as the price might close the day near 0.8400 without a new lower swing low. Not much has changed for now and traders will continue to observe the pair reactions near the current level. On the upside, if the pair could climb with strong bullish pressure then it will target the 0.8400 level.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY extended the bullish movement following Yen’s weakness. There is no bearish sign and the pair is now on track to target the previous swing high. Will the pair reverse its direction and start moving lower again? Alternatively, will it grind upward slowly and print a new higher swing high to cancel any bearish outlook?

Today’s Critical level to watch:

Support: 195.00, 193.50, 190.00, 180.00, 178.70

Resistance: 198.00, 200.00

GBP/CHF

GBP/CHF bounced from the 1.1200 – 1.1225 area and now moving upward with moderate bullish pressure. Despite the bullish situation, no higher swing high printed yet which means the sideways movement of the pair might continue. As mentioned before, it is better to wait for the formation of a higher swing high or lower swing low 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