Forex Technical Cross Pairs Analysis | April 16, 2021

EUR/JPY

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EUR/JPY extending the sideway movement inside the blue box area as shown on the daily chart. Nothing to do aside from waiting for the price to move out of the consolidation range. Traders who want to enter long positions will wait for a bearish correction toward 128.00 or 127.00.

Today critical levels to watch:

Support: 128.00, 127.00, 125.00

Resistance: 130.00, 131.50, 132.00

EUR/GBP

It seems the bullish attempt of EUR/GBP resulted in bearish rejection today from 0.8700. The pair might close the week near its opening level. No conclusion yet where the pair will move next. But, if the pair move lower in the coming week then traders will observe the reaction near 0.8600.

today critical levels to watch:

Support: 0.8600, 0.8500, 0.8400

Resistance: 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY stick near the 150.00 support level. The pair form a bullish reaction today which might become the signal for bullish continuation next week. Traders will keep holding long positions with a stop below the previous swing low around 148.50.

Today Critical level to watch:

Support: 150.00, 147.50, 145.00

Resistance: 152.00, 153.50, 156.58

GBP/CHF

GBP/CHF follows the GBP/JPY price movement example. The pair fell below the 1.2700 support level but managed to recover most of its losses and currently trading above 1.2700. A pin bar pattern might be formed and indicate further bullish movement next week.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2800, 1.2900

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