EUR/JPY
The bullish correction in EUR/JPY continues to unfold, with price action attempting to push higher toward the resistance levels inside the highlighted green box area. Despite the current upside retracement, the broader outlook remains firmly bearish. Traders should hold off on immediate entry and wait for a confirmed rejection signal within the green box zone before taking short positions.
Today’s critical levels to watch:
Support: 178.00
Resistance: 180.00, 183.40, 185.84, 190.00
EUR/GBP
EUR/GBP is currently trading at the upper boundary of its green box area, actively testing resistance. Expectation remains for the pair to capped at this level and eventually resume its primary bearish trajectory. However, price action near key resistance requires strict risk parameters. A daily close above 0.8620 would invalidate the current bearish bias and signal a potential trend shift to the upside.
Today’s critical levels to watch:
Support: 0.8525, 0.8500
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
In tandem with other Yen pairs, GBP/JPY remains in a bullish correction phase. While upside pressure persists in the short term, the overarching structure continues to favor a broader downside move. Chasing the current move is risky. The optimal approach is to remain patient until upward momentum slows down and the pair forms a distinct bearish continuation pattern (such as a lower high or bearish engulfing structure) prior to entering short positions.
Today’s critical level to watch:
Support: 208.00, 205.00
Resistance: 210.00, 211.50, 214.965, 218.00
GBP/CHF
GBP/CHF experienced a drop with moderate downward momentum. Traders should closely monitor the 1.0896 mark, which aligns with the previous swing low and serves as a major tactical support level. While the pair shows short-term weakness, the broader bullish posture remains intact for now. A structural invalidation of the bullish move will only take place if the pair breaks and closes below the lower boundary of the green box support area.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.1060, 1.1100