EUR/JPY
EUR/JPY pushed lower yesterday but no new lower low was printed on the chart. The pair currently trading upward but might settle inside yesterday’s range. No major change to the situation, it seems the pair will continue consolidating near the current level. If the pair extends the bearish movement toward the 154.00 – 155.00 area then traders could use the chance to add long positions.
Today’s critical levels to watch:
Support: 155.00, 154.00, 151.50, 148.50
Resistance: 160.00, 162.87, 171.00
EUR/GBP
EUR/GBP continued the bearish movement in the previous day’s trading. The pair closed below the 0.8580 – 0.8600 area which might confirm a new bearish leg. At the current time, the pair is trading upward and will attempt to close the week near the 0.8580 – 0.8600 area. If the pair closed near the area then it might consolidate near the area next week until the Fed FOMC meeting. Will the pair resume the bullish movement above 0.8600? Alternatively, will it continue moving lower to print a new lower low?
Today’s critical levels to watch:
Support: 0.8600, 0.8580, 0.8400, 0.8325
Resistance: 0.8700, 0.8750
GBP/JPY
GBP/JPY closed lower yesterday near the 182.45 support level. The pair do not continue the bearish movement today and trading slightly upward. We might see the pair stick near 182.45 until next week’s FOMC meeting. Traders will wait for further confirmation for now while accumulating long positions near 182.45. On the lower side, as long as there is no close below 178.50, the pair could continue the bullish trend.
Today’s Critical level to watch:
Support: 182.45, 178.50, 172.00, 170.00, 168.50
Resistance:
GBP/CHF
GBP/CHF made a strong bearish close yesterday but maintained the position above 1.1100. The pair showed a bullish reaction today but could not continue moving upward. If the pair trades lower again and closes near 1.1100 then we might see a bearish attempt to breakout below 1.1100. Despite the situation, the pair range between 1.1100 – 1.1225 has not changed yet and a sideway movement inside the area might continue.
Today’s critical levels to watch:
Support: 1.1100, 1.0500, 1.0000
Resistance: 1.1200, 1.1530, 1.1600, 1.1750