Forex Technical Cross Pairs Analysis | April 07, 2021

EUR/JPY

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EUR/JPY closed the previous trading day on the bullish side and currently the pair attempting to move further upward. The pair will challenge March high and attempt to extend the bullish movement toward 131.50 – 132.00. It is better to avoid short positions and waiting for a bearish correction 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 bullish reaction from 0.8500 launched the pair upward and closed near the 0.8600. The pair currently testing the level and looking for a close above it. It needs a higher high above 0.8644 to extend the current bullish movement toward 0.8700 – 0.8750.

There is a chance that the trend has reversed and traders could start looking to add long positions when a bearish correction happens.

today critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8600, 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY made a bearish close encompassed the three trading days range. The pair seems ready for a bearish correction toward 150.00. There is bearish follow-through today, however, the price currently has traded back to its opening level. Traders will wait near 150.00 for a chance to add more long positions. Meanwhile, it is better to stay sideline or continue to hold long positions.

Today Critical level to watch:

Support: 150.00, 147.50, 145.00

Resistance: 152.00, 153.50, 156.58

GBP/CHF

As mentioned previously, 1.2800 in GBP/CHF is a support level to watch. At the current time, the pair has touched the level and bounce from it. If the pair could add more bullish pressure and close above 1.2900 then traders could expect the bullish movement to continue to test 1.3060.

Today critical levels to watch:

Support: 1.2800, 1.2700

Resistance: 1.2900, 1.3000, 1.3060

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