Forex Technical Cross Pairs analysis August 16, 2019

EUR/JPY

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The bear keeps pressuring 117.80 support level but could not create decisive bearish close below the level. At the current time, the pair holding out at 117.80 and might close the week near it. Without any bearish breakout below the level then EUR/JPY might start bullish correction from the support level.

Support: 117.80

Resistance: 120.00, 121.00

EUR/GBP

EUR/GBP gain bearish momentum and drop below the top of the channel today. The pair soon will reach the bottom of the channel. Will it stop the bearish momentum and bounce from the bottom of the channel? Traders who are looking for long positions might want to wait until a bullish close happen before entering positions.

today critical levels to watch:

Support: 0.9100, 0.9000

Resistance: 0.9200, 0.9300

GBP/JPY

GBP/JPY escaped the closure below 128.20 this week and seems will close between 128.20 – 130.00 area. The pair might continue upward in the coming week to test 130.00. We think the pair will consolidate between 128.20 – 130.00 and aiming to break above the level. If the bullish breakout happens then the blue trendline will become an upward target.

Today Critical level to watch:

Support: 128.20, 127.00, 125.00

Resistance: 130.00, 132,00

GBP/CHF

GBP/CHF make a bullish correction today and reach the bottom of the channel. The pair has more room upside toward 1.2000 and the top of the channel. Traders will determine GBP/CHF next direction by observing the pair reaction near both resistances. A breakout and close above 1.2000 might shift the pair medium-term trend into bullish.

Today critical levels to watch:

Support: –

Resistance: 1.2000, 1.2300

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