Forex Technical Cross Pairs analysis December 04, 2019

EUR/JPY

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EUR/JPY closed lower near 120.30 and continue its downward movement today. We think the pair will find support at 120.00 – 120.30 area. At the current time, the pair has recovered part of its losses today. If a close above 120.30 happen then we could expect a bounce in the coming days.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20, 119.00

Resistance: 121.50

EUR/GBP

The direction is downward and EUR/GBP started to move lower again today. No change to the outlook and traders will maintain the short positions for now.

today critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8600

GBP/JPY

GBP/JPY bounced from the trendline and make a strong bullish movement today. The pair printed higher high on the chart and looks will continue its upward movement to test 142.50. The overall long-term trend is bullish which mean traders better stick with long positions until major bearish pattern formed.

Today Critical level to watch:

Support: 141.00, 140.00, 137.00, 136.00

Resistance: 142.50, 145.00

GBP/CHF

Similar to GBP/JPY, GBP/CHF make strong upward advance and set to continue its bullish trend. The pair currently testing 1.2900 resistance. A close above the resistance will become the bullish confirmation and traders could continue to hold long positions.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900, 1.3000, 1.3060

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