EUR/JPY

EUR/JPY upward movement showed a bearish sign today as the pair erased Friday’s gain. If there is a bearish continuation then the pair might print a new lower swing high which confirms the continuation of a bearish trend. Meanwhile, if the pair continue the upward movement then it will target the Fibonacci Retracement levels where traders could enter short positions.

Today’s critical levels to watch:

Support: 155.00, 154.00

Resistance: 160.00, 163.00, 165.00

EUR/GBP

EUR/GBP fell sharply below the 0.8400 level and immediately reached the 0.8325 support level. There is no bullish sign which means the pair could continue the bearish movement. However, if a bullish bounce happens then the pair might target the 0.8400 level for a retest. As the situation is bearish, traders will continue to avoid long positions unless for short-term speculation.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8530, 0.8580, 0.8600

GBP/JPY

GBP/JPY moving inside the Fibonacci Retracement area now and will wait for reactions. There is no bearish sign yet which means the bullish correction might continue to test a higher level. When the pair forms a major bearish formation, traders could start entering short positions with a stop above the previous swing high. However, if the pair manage to form a new higher swing high then the trend will turn bullish as it already formed a higher swing low.

Today’s Critical level to watch:

Support: 180.00, 178.70

Resistance: 190.00, 193.50

GBP/CHF

GBP/CHF attempting to move upward to target the green box area where bearish reactions might happen. Under the current situation, it is better to stay sideline as the pair has not shown a major bearish reaction. A close above 1.1400 or 1.1500 might be a bullish confirmation and traders could delay entering short positions when it happens.

Today’s critical levels to watch:

Support: 1.1000, 1.0800, 1.0500

Resistance: 1.1200, 1.1225