EUR/JPY continue trading near the trend line and not showing major indication of next direction yet. Traders will continue waiting for further reactions from the trend line for now. Without major reactions, the pair will continue trading sideways near it. On the lower side, 154.00 – 155.00 area is the bearish target.
EUR/GBP turned lower after it reached the 0.8580 – 0.8600 area. The pair might move lower to test the 0.8500 level. Traders could wait near the level for bullish reactions and chance to enter long positions. If the pair breakout and close above 0.8600 then it will target 0.8700 – 0.8750 area next.
GBP/JPY aggressively lower and almost reached the 184.00 level after breakout from 188.00. However, the bearish movement reversed immediately and the pair trade back above the trend line again. If the pair continue to maintain its position, then it will form a bullish engulfing pattern. Under current situation, it seems the pair will resume the ranging movement between 188.00 – 193.50.
GBP/CHF made a bullish turn-around today, where it might close the day as bullish engulfing pattern. The pair has chance to extend the bullish movement to retest the broken trend line. On the upside, 1.1060 – 1.1100 area will become a resistance area to watch. When the pair experiences bearish rejection, then traders could enter short positions.