Forex Technical Cross Pairs Analysis | January 12, 2022

EUR/JPY

EUR/JPY closed above the blue box area and prepared for further bullish movement to retest the 131.50 – 132.00 area. A breakout and close above the area will confirm a bullish continuation toward 133.50. The pair needs to close below the orange box area to confirm bearish continuation. We suggest traders stick with long positions for now as the long-term trend is bullish.

Today critical levels to watch:

Support: 130.00, 128.00, 127.00

Resistance: 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP tested the 0.8325 and there is little bounce from the level. The pair looks will continue its bearish test on the 0.8325 support level. If a bearish breakout happens then the pair could continue lower to target 0.8100. On the higher time frame, if the pair could bounce from the current level then there is bullish potential up to 0.9300.

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY printed bullish close yesterday and currently hanging near the previous week’s high. If the pair could breakout and print a higher swing high then the long-term bullish trend will continue. On the other hand, if a bearish reversal happens (Low chance) then the pair could move lower to retest the 153.50 support level again.

Today Critical level to watch:

Support: 156.58, 153.50, 150.00, 149.20

Resistance: 160.00

GBP/CHF

GBP/CHF bullish streak has not stopped yet after the breakout above 1.25000. The pair direction is only upward now but we might see a bearish correction to retest 1.2500. When a retest happens, traders could consider entering long positions on bullish reactions. We think the trend has changed and traders better shift to long positions now.

Today critical levels to watch:

Support: 1.2500, 1.2300, 1.2000

Resistance: 1.2600, 1.2700

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