Forex Technical Cross Pairs Analysis

Forex Technical Cross Pairs Analysis | February 13, 2023

By Harry February 13, 2023, 12:52 pm • Posted in Forex

EUR/JPY

EUR/JPY maintains the position above the 140.50 level and might continue trading near it for now. There is bullish pressure today above the 140.50 level. Traders will continue to observe the pair movement near 140.50 nearing the release of U.S inflation data this week. On the upside, 148.50 – 151.50 is the area to watch as the target. On the lower side, if a new lower low is printed on the chart then the pair could continue moving lower to target 135.00.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP slowly moving lower toward the 0.8750 support level. The pair might continue moving lower to reach the target and traders will wait until it reaches the target. When the pair reach the target and form a bullish reaction then it is a chance for traders to enter long positions. On the upside, a close above 0.9000 will confirm a long-term bullish continuation.

Today’s critical levels to watch:

Support: 0.8750, 0.8700, 0.8600, 0.8580

Resistance: 0.8900, 0.9000

GBP/JPY

GBP/JPY looks trading sideways since December last year. The pair currently trading upward and will test the top of the range. If there are bearish reactions then traders could enter short positions to target the bottom of the range. A breakout and close below the 156.58 level will open the path toward the 153.50 support level.

Today’s Critical level to watch:

Support: 156.58, 153.50

Resistance: 161.00, 164.00, 168.50, 170.00

GBP/CHF

GBP/CHF continues trading below the 1.1200 level but has no strong bearish momentum. The pair might continue trading sideway now and traders will wait for further reactions. If the pair could build strong bullish pressure and close above the 1.1200 level then the pair could continue the bullish movement toward the 1.1530 – 1.1600 area. On the other hand, if the pair resume the bearish movement then traders will expect the pair to target previous year’s low.

Today’s critical levels to watch:

Support: 1.1200, 1.0500, 1.0000

Resistance: 1.1530, 1.1600, 1.1750