EUR/JPY

EUR/JPY bounced from the level near 155.00 which is not out of expectation. We could say the pair has reached the 154.00 – 155.00 area and there was a reaction. The upward movement might be a temporary reaction before the Fed interest-rate announcement. Traders will wait for the price movement after the interest rate announcement. If the pair resumes the bearish movement and prints a new lower swing low then the bearish trend will continue. On the upside, 160.00 and the bearish trendline could become the place for traders 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 turned lower today and almost touched the 0.8400 level. It seems the pair have not made any major movement nearing the Fed FOMC meeting. This is as expected, and now traders will wait for the reactions after the interest-rate announcement. If the pair continues the upward movement, then 0.8500 will become the target. On the other hand, a bearish breakout and close below 0.8400 will confirm the continuation of the bearish trend.

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 turned upward after the latest bearish leg. The pair is in a bearish trend, but the latest bearish leg has not printed a new lower swing low. At the current time, traders will wait for the Fed interest-rate announcement. If the pair continues moving upward, then 188.50, 190.00, and 193.50 are the resistance levels to watch for bearish reactions. On the lower side, as long as the pair continues moving lower and prints a new lower swing low, then the bearish trend could continue.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF ranging between 1.1000 – 1.1225 continue for now. The pair made a bearish breakout in the previous attempt but returned inside the range again. Traders will wait for the Fed FOMC meeting today which might produce volatility. If the pair resumes the bearish movement and breakout below 1.1000 then there is a high chance of bearish continuation. However, if the pair closes above 1.1225 then it might resume the bullish continuation.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225