Forex Technical Cross Pairs analysis February 19, 2020

EUR/JPY

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EUR/JPY closed lower in the previous trading day and set to continue its bearish trend toward 117.80. There is a limited bullish attempt today. If the pair continue moving higher then 119.20 and 120.00 – 120.30 will become the target level to watch. Traders could enter short positions when the pair tested 119.20, 120.00 – 120.30 and formed a bearish pattern.

Today critical levels to watch:

Support: 117.80

Resistance: 119.20, 120.00, 120.30

EUR/GBP

It is up to the bear now after EUR/GBP closed on the bearish side yesterday. The test on 0.8325 has given traders a result. If the bear pushed the price below the previous day low then EUR/GBP might continue its bearish movement toward 0.8120.

today critical levels to watch:

Support: 0.8325, 0.8120

Resistance: 0.8400, 0.8500, 0.8600

GBP/JPY

It is hard to become enthusiastic in GBP/JPY as the pair momentum movement always dies before it could make the significant distance from 142.50. The pair made bullish bounce yesterday and expected to surpass Monday high. However, at the end of day, the pair retraced and closed near its opening level. Today, there is another bullish attempt but no high high printed yet.

We think GBP/JPY will continue its movement near 142.50

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

The long positions could be taken near 1.2700 if there is a bearish correction. GBP/CHF managed to bounce from the level near 1.2700 yesterday. Initially, it looked moderately bullish, however, the bull could not execute a close above Monday high. The outlook is cautious bullish and we still expect the pair will reach 1.2900.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2900, 1.3000

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