Forex Technical Cross Pairs analysis August 23, 2019

EUR/JPY

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Forex Technical Cross Pairs analysis August 23, 2019

Patience is what traders need when dealing with the current EUR/JPY movement. The pair stick near 117.80 support level and show no major reaction. We expect the pair to continue its consolidation for now. No clear direction yet, traders might want to stay flat.

Support: 117.80

Resistance: 120.00, 121.00

EUR/GBP

Forex Technical Cross Pairs analysis August 23, 2019

A bearish breakout of the channel on EUR/GBP happened yesterday. The pair might continue lower and target 0.9000 and 0.8920. Traders could prepare for long positions near both levels when there is a bullish pattern formed. Wait until the bearish momentum recede.

today critical levels to watch:

Support: 0.9000

Resistance: 0.9100, 0.9200, 0.9300

GBP/JPY

Forex Technical Cross Pairs analysis August 23, 2019

GBP/JPY crossed above 130.00 yesterday and confirm a further bullish correction. If the bullish correction continues then GBP/JPY will target the blue trendline. Traders might want to avoid long positions for now and stick to the short positions.

Today Critical level to watch:

Support: 130.00, 128.20

Resistance: 132,00

GBP/CHF

Forex Technical Cross Pairs analysis August 23, 2019

GBP/CHF tested the 1.2000 resistance and closed above it. It could be the sign for a long-term bullish reversal. However, the pair need to maintain the level above 1.2000 by the end of the week. A closure below 1.2000 will hinder the uptrend and might switch the trend back to bearish.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2300

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