EUR/JPY
EUR/JPY continues the gain since the bounce from the 155.00 support level. The pair might attempt to target the Fibonacci Retracement level on the upside. Traders will take note that the latest bearish attempt failed to print a new lower swing low. If the pair manages to print a new higher swing high then we have a double bottom pattern formed. Despite the situation, traders will continue to maintain a bearish outlook for now at least until a new higher swing high is formed.
Today’s critical levels to watch:
Support: 155.00, 154.00
Resistance: 160.00, 163.00, 165.00
EUR/GBP
EUR/GBP made a bearish attempt below the 0.8400 support level today but the pair looks recovering near above the level now. We might see a continuation of sideways movement near the 0.8400 level for now. Will the pair break out and print a new lower swing low? Alternatively, will it bounce upward with strong bullish momentum to reverse 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 bearish leg could not print a new lower swing low and the pair currently trading upward. The pair will attempt to print a new higher swing high to reverse the bearish trend. At the current time, traders will monitor the pair reactions near the Fibonacci Retracement levels. If the pair turned lower again then it is in a neutral situation. The next higher swing high or lower swing low will confirm the pair’s next direction.
Today’s Critical level to watch:
Support: 180.00, 178.70
Resistance: 190.00, 193.50
GBP/CHF
GBP/CHF make a bullish breakout above 1.1225 which means the bullish correction will continue now. A new structure formed and the pair has printed higher swing high and higher swing low for the short-term trend. On the upside, the green box area might become the area where bearish reactions happen. However, as a new structure has formed, the pair might trade between 1.1225 and 1.1400 until the next direction settles.
Today’s critical levels to watch:
Support: 1.1000, 1.0800, 1.0500
Resistance: 1.1200, 1.1225