EUR/JPY

EUR/JPY turn lower and almost erased all of yesterday gain. The pair has printed new higher swing high, but it seems the bear keep attempting to push it lower. If the pair turn lower, then there is a chance of downward movement to target the lower trend line. We maintain the bullish target at the 175.374 level. When the pair reaches the lower trend line, there is chance for traders to add long positions.

Today’s critical levels to watch:

Support: 170.00, 166.50, 165.00, 163.00

Resistance: 173.00, 175.00

EUR/GBP

EUR/GBP pressuring to the upside at the 0.8700 – 0.8750 area. The pair will attempt to breakout higher and resume the bullish trend. As we mentioned, there is an ascending triangle pattern in play right now. As long as the low gets higher, there is no reason to turn bearish yet.

Today’s critical levels to watch:

Support: 0.8600, 0.8580, 0.8530, 0.8500, 0.8430, 0.8400, 0.8325

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY upward swept above the 200.00 level yesterday. However, the pair turn lower with strong bearish momentum today. It returns inside the 198.00 – 200.00 area and might turn bearish. Despite the situation, we think the latest bearish movement might be the final attempt to reverse the current bullish trend above 200.00. As long as the pair maintain a higher low on the chart, there is no reason to turn bearish yet. (Don’t forget to place stop order below latest swing low or below 195.00.)

Today’s Critical level to watch:

Support: 198.00, 195.00, 193.50, 190.00, 188.00

Resistance: 200.00

GBP/CHF

GBP/CHF resume the bearish trend after the rejection from 1.0800 level. The pair not showing sign of bullish reversal and new lower low printed today. As the trend is bearish, traders who have short positions will place stop order above the 1.0800 level. On the lower side, the pair might target a new lower swing low.

Today’s critical levels to watch:

Support: 1.0800, 1.0600, 1.0500

Resistance: 1.1000, 1.1200