Forex Technical Cross Pairs Analysis | April 08, 2021

EUR/JPY

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EUR/JPY slightly lower at the early trading session. The pair slowly recover its loss and currently trading inside the previous day range. We think the pair could continue its bullish trend and target 131.50 – 132.00. However, if the pair makes a bearish correction then traders could wait near 128.00 and 127.00 for 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 started a bullish reversal and it seems the pair have confirmed that the bullish movement will extend toward 0.8700 – 0.8750. The area is a major resistance level to watch. If the pair could climb and close above it then it is expected to extend the current bullish reversal. On the other hand, if the pair get rejected then 0.8600 is the level to watch for a bounce.

today critical levels to watch:

Support: 0.8600, 0.8500, 0.8400

Resistance: 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY touched the 150.00 support level where traders could enter long positions. The pair has made two bearish closes and today will be the third day. Traders will monitor the pair reaction at 150.00. If there is no major bullish reaction and the pair close below 150.00 at the end of the week then be prepared for a deeper bearish correction to test 147.50.

Today Critical level to watch:

Support: 150.00, 147.50, 145.00

Resistance: 152.00, 153.50, 156.58

GBP/CHF

GBP/CHF failed to bounce from 1.2800 and we have major bearish follow-through toward 1.2700. There is no bullish reaction yet. If the pair continues moving lower then it could make a deeper correction toward 1.2500 and 1.2300. Only enter long positions when there is a major bullish reaction.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2800, 1.2900

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