Forex Technical Cross Pairs Analysis | April 02, 2024

EUR/JPY

EUR/JPY bearish correction has not completed yet as the pair continue moving lower. The pair might reach the trendline and bounce from it. Traders will wait for the pair to make a bullish reactions near the trendline or the cluster of Fibonacci Retracement level for chance to add long positions. However, if the pair manage to move lower and form a new lower low below 160.00 then the trend will turn bearish.

Today’s critical levels to watch:

Support: 160.00, 155.00, 154.00, 151.50, 148.50

Resistance: 162.00, 163.00

EUR/GBP

EUR/GBP’s made a bullish attempt today but it return near the opening level. At the current time, the pair might continue the consolidation inside the green box area. Traders will continue waiting for the pair to move out of the range to confirm the next direction. Without any breakout, traders could continue use the range to do range trading.

Today’s critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8580, 0.8600, 0.8700, 0.8750

GBP/JPY

GBP/JPY made another bearish close but not a significant one. The pair looks trading upward today and will attempt to erase the losses incurred yesterday. On the lower side, 188.50 is the support level to watch when the pair manage to reach it. As long as the pair continue printing new higher high and higher low, it is better to avoid shorting the pair.

Today’s Critical level to watch:

Support: 188.50, 186.00, 184.00, 182.45, 178.50

Resistance: 190.00

GBP/CHF

GBP/CHF made another bullish reaction today with strong momentum. The pair might continue the bullish movement to target the 1.1530 – 1.1600 area. No change to the bullish outlook and traders will continue use each bearish correction in the pair to add more long posiitons. On the lower side, 1.1200 – 1.1225 is the area to watch for bullish reactions when a significant bearish correction happen.

Today’s critical levels to watch:

Support: 1.1200, 1.1100

Resistance: 1.1530, 1.1600, 1.1750

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