Forex Technical Cross Pairs analysis April 8, 2020

EUR/JPY

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EUR/JPY extended its bullish close and almost reach 119.20 resistance level yesterday. The pair make a bearish attempt today but manage to bounce from the level near 117.80. On the long-term outlook, the pair direction is bearish, traders better waiting for the chance to enter short positions near the resistance rather than taking long positions.

Today critical levels to watch:

Support: 117.80, 116.30, 115.80

Resistance: 119.20, 120.00

EUR/GBP

No bullish momentum in EUR/GBP, the pair back under pressure and might retest 0.8750 support level again. Traders will observe the pair reaction when the test happen. Without major close below 0.8750, EUR/GBP will continue to stick near the support level.

today critical levels to watch:

Support: 0.8750

Resistance: 0.9000, 0.9300, 0.9500

GBP/JPY

The bull is slowly building bullish pressure below 135.00 – 136.00. Bearish rejection happened but it could not lead the pair to make strong bearish close. If the pair could continue to maintain the position near the 135.00 – 136.00 resistance area then a major bullish breakout will happen soon.

Today Critical level to watch:

Support: 132.50, 132.00, 130.00, 128.20

Resistance: 134.50, 135.00, 136.00

GBP/CHF

GBP/CHF sticks near the 1.2000 resistance level and showing no major bearish reaction. The pair expected to continue trading sideways near the resistance level and eventually breakout higher. Traders will wait for either major bullish close above the level or major bearish rejection pattern before entering positions.

Today critical levels to watch:

Support: 1.1200

Resistance: 1.2000

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