EUR/JPY at a Critical Juncture
EUR/JPY finds itself at a decisive point, with the potential to break higher and confirm a “W” pattern or decline to retest the 154.00–155.00 support zone. The pair could extend its bearish trajectory following the Bank of Japan’s interest rate announcement. However, a weakening U.S. dollar and strength in other major currencies may alter the market outlook. Given the current conditions, a cautious approach is advisable until further confirmation emerges.
Key Levels to Watch:
- Support: 155.00, 154.00
- Resistance: 160.00, 163.00, 165.00
EUR/GBP Faces Key Resistance at 0.8400
EUR/GBP recently tested the 0.8400 resistance level but showed a weak bounce, indicating potential for another test in the coming sessions. A break lower could lead the pair toward 0.8325, a critical support level. The key question remains: Will the pair push higher for a decisive breakout above 0.8400, or will it retreat into a consolidation phase between 0.8325 and 0.8400?
Key Levels to Watch:
- Support: 0.8325, 0.8250
- Resistance: 0.8400, 0.8500, 0.8530
GBP/JPY Poised for Further Gains?
GBP/JPY maintains upward momentum, suggesting more bullish pressure this week. A sustained close above 193.50 would confirm a bullish continuation, while a drop below 188.00 would indicate a return to a long-term bearish trend. For now, the best approach is to remain patient and await a decisive move.
Key Levels to Watch:
- Support: 188.00
- Resistance: 190.00, 193.50, 195.00
GBP/CHF at a Key Trend Line Test
GBP/CHF ended the previous week near the 1.1360 level, a crucial point for determining its next move. The pair remains supported by this level and the existing bullish trend line. A break lower could see the pair re-enter the prior consolidation range, while a breakout above the upper trend line would confirm a long-term bullish bias. The next directional move hinges on which trend line gives way.
Related topics:
