EUR/JPY

EUR/JPY turned lower today and managed to trade lower yesterday’s low. However, there is bounce reactions from the 50% Fibonacci level which brings the pair back inside yesterday’s range. The pair might continue trading near the current level and waiting for further confirmation. Will the pair start a new bearish leg to continue the long-term bearish trend? Alternatively, will the pair bounce up and continue the bullish movement?

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP made a major bullish bounce from the 0.8325 level. The pair closed higher and there is a bullish attempt today. However, the upward movement lost the bullish pressure and currently trading below the opening level. The pair has 0.8400 as an upward target and traders will observe the reactions. As long as the pair continues printing new lower-swing highs and lower-swing lows, there is no change to the 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 made a bearish close yesterday and there is a bearish follow-through today. The pair might reverse the trend and continue the bearish movement. However, it is currently supported by the 198.00 level. Will the pair break out and continue the bearish movement? Alternatively, will it bounce upward and break out above the 200.00 level?

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 situation has not changed, the pair continues trading up and down near the 1.1200 – 1.1225 area. Traders will continue waiting for the pair to make a movement with strong momentum. As mentioned before, the next higher swing high or lower swing low will 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