EUR/JPY

EUR/JPY extended the bearish movement smoothly toward the 154.00 – 155.00 area target. There is no change to the bearish direction and traders who already have short positions since the test of Fibonacci Retracement levels will continue to hold the positions. When the pair started another bullish correction, traders could use it as a chance to add more 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 slightly lower today but maintains a position above the 0.8400 level. The pair is in a sideways situation near the level which means no confirmation on the next direction yet. If the pair breaks and closes below 0.8400 then the bearish trend will continue. On the upside, if the bullish correction continues then 0.8500 – 0.8530 will become the area to watch for bearish reactions.

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 continues the bearish movement today by printing a new lower low. The pair is in a bearish trend and a bearish continuation is expected. However, if the pair started another bullish correction then traders could wait near the Fibonacci Retracement levels for bearish reactions. When there are bearish reactions, traders could add more short positions targeting a new lower swing low.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF closed near 1.1000 and seems to continue consolidating near it. There is a bearish attempt today which managed to move below yesterday’s low. However, the bearish pressure has receded and the pair recover above the low and might close near 1.1000. Traders will continue to monitor the pair movement near 1.1000 for now while holding short positions.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225