Forex Technical Cross Pairs Analysis | August 05, 2022

EUR/JPY

EUR/JPY gaining upward momentum and currently testing the 137.40 resistance level. A close above the level will confirm a bullish continuation in the coming week. However, a significant bearish rejection from the level will trigger a bearish reversal and continuation to target the area below 134.50 – 135.00.

Today’s critical levels to watch:

Support: 135.00, 134.50

Resistance: 137.40, 140.50, 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP closed above the 0.8400 level which confirms bullish reversal. The pair need to maintain a position above the 0.8400 support level to continue the bullish movement toward 0.8500. Traders will wait near the 0.8500 level for a chance to enter short positions when a bearish reversal happens.

Today’s critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500, 0.8580

GBP/JPY

GBP/JPY ranged perfectly between 161.00 – 164.00 even though the pair moved with high volatility. Traders will wait until the pair make a close outside of the range to confirm the next direction. We still favor the bullish scenario but traders might want to apply a ranging strategy for now until the breakout happens.

Today Critical level to watch:

Support: 161.00

Resistance: 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF has not left the 1.1600 yet. The pair continued the sideway movement near it without a major clue on the next direction. Traders will continue waiting until the pair either print a new lower low or close above 1.1750 to confirm the next trending movement.

Today’s critical levels to watch:

Support: 1.1600

Resistance: 1.1750, 1.2000, 1.2125

Copyright © 2022. 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.