Forex Technical Cross Pairs Analysis | January 19, 2022

EUR/JPY

EUR/JPY pushed lower and closed in the orange box area. It is the major support level to watch for the current bullish movement. If the pair breakout and close below the area then we might see a bearish continuation to target 128.00 and 127.00 support levels. On the other hand, if the pair could maintain the close inside the orange or blue box area then there is a chance of bullish continuation

Today critical levels to watch:

Support: 130.00, 128.00, 127.00

Resistance: 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP continues under pressure near the 0.8325 support level. Judging from the candlestick closes, we might see a bearish breakout and continuation below the support level. No change to the strategy yet, traders will wait for a bullish correction to enter short positions near resistance levels.

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY starts to move lower, gets rejected from the 156.58 resistance level. The pair might continue lower to target horizontal levels around 154.20 and 153.50. Traders could use both levels as the place to enter long positions on bullish reactions. We still think the long-term bullish trend could continue above the 156.58 resistance level.

Today Critical level to watch:

Support: 156.58, 153.50, 150.00, 149.20

Resistance: 160.00

GBP/CHF

GBP/CHF started a bearish correction and closed below the 1.2500 level. The pair currently trades near the level and will wait for further reaction. If the pair could reverse the bearish pressure and close above 1.2500 then we might see a bullish continuation toward the 1.2700 resistance level.

Today critical levels to watch:

Support: 1.2500, 1.2300, 1.2000

Resistance: 1.2600, 1.2700

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