EUR/JPY staying bullish and not far from the 175.374 target level. The pair is expected to continue the bullish movement and reach the target. After that, if there is bearish correction toward the lower trend line, then it might provide traders with a chance to enter long positions. As mentioned before, shorting is not suggested as the structure of the pair is bullish.
Today’s critical levels to watch:
Support: 170.00, 166.50, 165.00, 163.00
Resistance: 173.00, 175.00
EUR/GBP
EUR/GBP printed new higher swing high above 0.8700 and now on the path upward to retest 0.8750. A breakout and close above the level will confirm the bullish continuation. Meanwhile, another rejection might bring the pair down to test either 0.8700 or the trend line. As long as the pair continue printing higher high and higher low, there is no reason to turn bearish.
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 return inside the 198.00 – 200.00 area again, which mean the latest breakout is a fake out. Fortunately, there is no bearish follow-through yet to retest 198.00. Under current situation, traders will monitor closely the movement inside 198.00 – 200.00. Despite the latest bearish, we could see the pair keep printing higher high and higher low. It means the bull still in control.
Today’s Critical level to watch:
Support: 198.00, 195.00, 193.50, 190.00, 188.00
Resistance: 200.00
GBP/CHF
GBP/CHF slightly lower to continue the bearish trend. No strong momentum and no bullish reversal sign. On the upside, the 1.0800 level will become the invalidation level for bearish trend. Meanwhile, as long as the pair keep printing lower low, it is better to stick with bearish scenario.
Today’s critical levels to watch:
