EUR/JPY

EUR/JPY trading upward again and is set to retest the Fibonacci Retracement levels. No change to the strategy, traders will wait for bearish reactions near the retracement levels to enter short positions. At the current time, the pair has formed a higher low on the chart and will attempt to print a higher high to reverse the bearish trend. If the pair turns lower and prints a new lower swing low then the bearish trend will immediately continue.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00

Resistance: 163.00, 165.00

EUR/GBP

EUR/GBP is supported by the 0.8400 support level and currently consolidating near it. The pair might continue trading sideways now and looking to form a base to bounce from. Will the pair extend the bearish movement and print a new lower swing low to continue the bearish trend? Alternatively, will it bounce upward to test the 0.8500 – 0.8530 area?

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8530, 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY extended the bullish movement and will test the higher Fibonacci Retracement levels. No change to the strategy, traders will wait for bearish reactions from the retracement levels to enter short positions. On the lower side, we think the pair will target a new lower swing low. On the upside, 198.00 – 200.00 is the major area to watch for bearish reactions.

Today’s Critical level to watch:

Support: 190.00, 180.00, 178.70

Resistance: 193.50

GBP/CHF

GBP/CHF direction is sideways for now as the pair is trading between 1.1100 – and 1.1225. No breakout from the area yet which means consolidation will continue. Traders will wait until the pair breakout with strong momentum from the area. Overall, we think the pair will resume the bearish trend from the current resistance area to target a new lower swing low.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225