Forex Technical Cross Pairs analysis August 12, 2020

EUR/JPY

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EUR/JPY resumed its bullish trend and printed higher high today. The pair crossed above 125.00 and currently set to target 127.00 resistance. Traders will continue to avoid short positions for now until the pair make a major bearish reaction.

Today critical levels to watch:

Support: 125.00, 123.30, 121.50

Resistance: 127.00

EUR/GBP

EUR/GBP closed near 0.9000 again yesterday. The pair manage to climb above the 0.9000 level today and set to resume its bullish trend. Similar strategies as before, as long as the 0.9000 level holding out against bearish pressure, traders could continue to hold long positions.

today critical levels to watch:

Support: 0.8920

Resistance: 0.9000, 0.9100, 0.9300

GBP/JPY

GBP/JPY smoothly higher toward 140.00. The pair expected to reach the resistance level soon. Traders will observe the pair reaction near the resistance level. If there is major bearish reaction then traders could enter short positions.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 140.00

GBP/CHF

GBP/CHF falls with strong momentum toward 1.1870 support level. No breakout yet from the 1.1870 – 1.2000 area. The pair currently testing the support level. Traders will observe the closing level to determine whether breakout happen or not.

Today critical levels to watch:

Support: 1.1867, 1.1750, 1.1730

Resistance: 1.2000

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