EUR/JPY
EUR/JPY extended its decline today, successfully printing a new lower swing low and reaching the 161.8% Fibonacci extension level. The market structure remains firmly entrenched in a bearish trend, keeping the broader momentum tilted heavily to the downside. Consequently, any short-term pullbacks are expected to offer strategic opportunities for traders looking to build short positions.
Today’s critical levels to watch:
Support: 178.00
Resistance: 180.00, 183.40, 185.84, 190.00
EUR/GBP
EUR/GBP initially pushed lower in early trading before recovering to trade back above its opening level. The pair may attempt a minor upward recovery to test the overhead 0.8600 – 0.8620 resistance zone. However, if buyers fail to secure a decisive hold above current levels, price action could easily turn lower and resume the broader bearish path.
Today’s critical levels to watch:
Support: 0.8525, 0.8500
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
In alignment with broader weakness across Japanese Yen crosses, GBP/JPY faced renewed selling pressure today and printed a new lower swing low. The pair’s overall structure remains decisively bearish, signaling that sellers remain fully in control. As long as daily candles continue to register lower closes, there is currently no technical justification to anticipate a bullish reversal.
Today’s critical level to watch:
Support: 208.00, 205.00
Resistance: 210.00, 211.50, 214.965, 218.00
GBP/CHF
GBP/CHF remains locked within its consolidation zone as price action continues to fluctuate near the upper boundary. Although recent bullish recovery attempts have faced consistent rejection, the pair continues to register a sequence of higher lows. Traders should monitor the range closely, as a decisive breakout higher or a sharp breakdown to print a new lower low will be required to define the next directional trend.
Today’s critical levels to watch:
Support: 1.0800, 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.0900, 1.1060, 1.1100