Forex Technical Cross Pairs analysis January 14, 2020

EUR/JPY

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EUR/JPY extend its bullish movement above 121.50 and reached the trendline resistance today. The pair might stay bullish for now before the U.S-China trade deal news. If the pair start moving lower then traders could look for long positions near 121.50 support level.

Today critical levels to watch:

Support: 121.50, 120.30, 120.00

Resistance: 122.00

EUR/GBP

A breakout above triangle pattern brought EUR/GBP up to test the red trendline. The pair currently waiting for further clue on the next direction. Current expectation see weakness in Poundsterling as BOE projected will cut interest-rate to bolster UK economy.

today critical levels to watch:

Support: 0.8500, 0.8400

Resistance: 0.8600, 0.8750

GBP/JPY

No clue yet on GBP/JPY next direction. The pair traded near 142.50 now and the range might tighten inside the triangle shown on the chart. Traders will wait until next momentum movement formed before placing major positions.

Today Critical level to watch:

Support: 142.50, 141.00, 140.00

Resistance: 144.33, 145.00

GBP/CHF

GBP/CHF made a bearish close yesterday below 1.2700. The pair now expected to continue its downward movement and target 1.2500. When the pair reaches the support level, traders could consider long positions if there is a bullish reaction from the support level.

Today critical levels to watch:

Support: 1.2500, 1.2300

Resistance: 1.2600, 1.2700, 1.2900, 1.3000

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