EUR/JPY

EUR/JPY maintained the close above 125.00 and bounced from the level. It seems the pair could extend the bullish movement and re-target the 127.00 resistance level. Traders will continue to observe the pair movement inside the 125.00 – 127.00 area. If the pair closed below the previous week low then traders will prepare for a bearish continuation toward 123.30.

Today critical levels to watch:

Support: 125.00, 123.30, 121.50

Resistance: 127.00

EUR/GBP

We could assume EUR/GBP has reached the bullish target at 0.9300 even though the pair have not touched the level yet. A bearish pullback might happen but might halt near June’s & July’s high. Traders could use the two months high to enter long positions in EUR/GBP.

today critical levels to watch:

Support: 0.9100, 0.9000

Resistance: 0.9300

GBP/JPY

GBP/JPY pushed lower and reached the 135.00 – 136.00 area. The pair bearish correction might have complete but the bear might push the pair further lower. If the 135.00 – 136.00 support area is broken then traders will prepare for a further bearish correction toward 132.50 and 130.00.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 138.50, 140.00, 142.50

GBP/CHF

GBP/CHF last week’s closing level is not far from the June’s low. The pair seems trying to maintain the level near June’s low. However, current strong bearish pressure might trigger further bearish movement with 1.1200 as the target. It is better to wait until the pair formed a major bullish reaction before deciding to enter long positions.

Today critical levels to watch:

Support: 1.1500

Resistance: 1.1750, 1.1870, 1.2000