Forex Technical Cross Pairs Analysis | April 06, 2021

EUR/JPY

Free $100 Forex No-Deposit Bonus

The pair seems rejected from the channel as it climbs and returns to the opening level today. The current trend is bullish which means traders will wait for a bearish correction to add more long positions. EUR/JPY needs to print higher high above the previous swing high at 130.62 to continue its bullish trend.

The same strategy as before, traders will wait for a bearish correction toward 128.00 or 127.00 to enter long positions.

Today critical levels to watch:

Support: 128.00, 127.00, 125.00

Resistance: 130.00, 131.50, 132.00

EUR/GBP

EUR/GBP finally printed a major bullish reaction after a prolonged bearish trend. The pair bounced from 0.8500 support level and surpassed four days trading high. If the pair could continue to maintain its bullish pressure then traders will expect the pair to head toward 0.8600.

0.8700 – 0.8750 could become the bullish target to watch in the medium-term.

today critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8600, 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY on track for a bearish correction after it reached the 153.50 resistance level. The pair show a major bearish reaction and might close the day as a bearish engulfing pattern. Traders could expect the pair to start correction toward 150.00 and waiting for the chance to enter long positions.

Today Critical level to watch:

Support: 152.00, 150.00, 147.50, 145.00

Resistance: 153.50, 156.58

GBP/CHF

Similar to the GBP/JPY which experienced rejection from the resistance level. GBP/CHF moved lower after the rejection from the 1.3060 resistance level. It is not far from the 1.2900 support level now. If the bearish pressure recedes then traders could consider entering long positions on bullish reaction.

Today critical levels to watch:

Support: 1.3000, 1.2900, 1.2800, 1.2700

Resistance: 1.3060

Copyright © 2021. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.