Forex Technical Cross Pairs Analysis | January 17, 2022

EUR/JPY

EUR/JPY return inside the blue box area which means the consolidation is expected to continue. We still expect the pair to continue the bullish trend and target the level above 131.50 – 132.00 area. At the current time, traders will observe the consolidation while looking for a chance to add more long positions near the bottom of consolidation.

Today critical levels to watch:

Support: 130.00, 128.00, 127.00

Resistance: 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP hovering near the 0.8325 support level without major bullish reaction. The pair might continue trading sideway for now near the level. No change to the analysis, traders will wait for bullish correction and enter short positions near the resistance level (0.8400 or the trendline).

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY pushed lower and closed below 156.58 resistance level last week. Despite the bearish reaction, the bearish pressure seems to recede at the current time. If the pair could build more bullish pressure and breakouts above the resistance level then traders will expect long-term bullish continuation.

Today Critical level to watch:

Support: 156.58, 153.50, 150.00, 149.20

Resistance: 160.00

GBP/CHF

GBP/CHF broke above the 1.2500 resistance level but could not maintain the close above it last week. The pair closed below 1.2500 at the end of the week and currently keep trading near it. Will the pair bounce and continue the bullish trend? We think the chance of bullish continuation is higher as the pair has formed a higher swing high on the chart.

Today critical levels to watch:

Support: 1.2500, 1.2300, 1.2000

Resistance: 1.2600, 1.2700

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.