Forex Technical Cross Pairs analysis December 05, 2019

EUR/JPY

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EUR/JPY bounced from 120.00 – 120.30 area and currently set to move toward 121.50 resistance. Traders could continue to hold the long positions in EUR/JPY for now until major bearish reactions happen. A close below 120.00 will cancel the bullish outlook.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20, 119.00

Resistance: 121.50

EUR/GBP

EUR/GBP moves lower, on track with our prediction. There is no change in the direction of the pair yet. We expect the pair to reach the 0.8400 support level and test it. Long positions will be possible when the pair form a major bullish reversal pattern.

today critical levels to watch:

Support: 0.8400

Resistance: 0.8500, 0.8600

GBP/JPY

GBP/JPY surpassed the resistance 142.50 easily yesterday with strong bullish momentum. The pair continue upward and shows no stopping yet to the bullish momentum. Traders could continue to hold long positions and wait for a bearish correction to add more positions.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 145.00

GBP/CHF

The pair set losses above 1.2900 and continue to reach 1.3000 today. Without major change in the pair then we could expect it will reach 1.3060 resistance by the end of the week.

Today critical levels to watch:

Support: 1.2900, 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.3000, 1.3060

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