Forex Technical Cross Pairs analysis January 6, 2020

EUR/JPY

The pair pushed lower from the 121.50 and reached 120.30 support level. At the current time, traders will observe the pair reaction at 120.00 – 120.30 support area. If the pair continues the downward movement and manages to close below the area then traders could expect further weakness.

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Today critical levels to watch:

Support: 120.30, 120.00

Resistance: 121.50, 122.00

EUR/GBP

EUR/GBP bounced from 0.8325 – 0.8400 support area and reached the level near the red trendline. No clue on the pair next direction yet. It might continue moving sideways for now.

today critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8600, 0.8750

GBP/JPY

GBP/JPY could not bounce from 142.50 and the pair printed a lower low on the chart. Without any change in the direction then the pair might continue lower to test 140.00. Traders will wait sideline for now and watch the pair reaction.

Today Critical level to watch:

Support: 140.00

Resistance: 141.00, 142.50, 145.00

GBP/CHF

A floor formed at 1.2700 in GBP/CHF. It is up to the bull to use the floor to bounce higher or let the pair slide below it. Traders could take a long position near the level with a tight stop below it. If the pair closes below the support level then it will target 1.2500.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900, 1.3000, 1.3060

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