We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (100.492) zones. A proper confirmation would occur if the EURJPY will manage to overcome the (101.972) resistance.
The outlook has grown increasingly bullish since EURGBP had remained above its latest swing low at (0.83276). If this support level is broken to the downside, the outlook will deteriorate.
Currently, further bullish actions could be seen on EURJPY. A break below (101.315) could be a threat to the bullish scenario targeting (98.867) even (98.317). On upside. Immediate resistance is at (102.204). A close above that area should keep the major bullish scenario intact testing (103.586) area.
The outlook has grown increasingly bearish since GBPCHF had remained below its latest swing high at (1.45212). If this resistance level is broken to the upside, the outlook will deteriorate.
We believe that possible bullishness could be seen during this trading session. Support is at (121.128). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish.
The outlook has grown increasingly bearish since GBPCHF had remained below its latest swing high at (1.45201). If this resistance level is broken to the upside, the outlook will deteriorate.
We believe that possible bullishness could be seen during this trading session. Support is at (99.922). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish.
We see better value in long positions. If the price will advance above the first resistance at (0.83959), this would confirm continuation of the bullish trend, towards next objective upwards (0.83152) then (0.82776) and (0.82047) will follow.
Weakness in EURCHF is likely to continue. We see a less chances of an immediate rise on the instrument for short-term technical outlook. Next downside barriers follow (1.20486) at (1.20256) and (1.20056).
EURCHF is at a crossroads, the instrument has a 50 – 50 chance of a recovery above (1.21224) or a fall towards (1.20520) in the coming session. We have to wait and watch the movement of the instrument from current levels.
