Forex Technical Cross Pairs Analysis | January 21, 2022

EUR/JPY

The bearish pressure on EUR/JPY pushed the pair down below the orange box area. It seems the bullish scenario will be delayed now as the pair might continue lower to test 128.00 or 127.00. Traders will wait near the support level for a chance to enter long positions.

Today critical levels to watch:

Support: 128.00, 127.00

Resistance: 130.00, 131.50, 132.00, 133.50

EUR/GBP

EUR/GBP stage a bounce from the 0.8325 support level after the previous bearish close. The bullish reaction has moderate momentum and might reach the 0.8400 resistance level also the top trendline. If the bullish pressure recedes then traders could use both resistance levels to enter short positions.

today critical levels to watch:

Support: 0.8325

Resistance: 0.8400, 0.8500

GBP/JPY

GBP/JPY continues moving lower and soon will reach the 153.50 support level. The pair failed again to breakout above 156.58 resistance level. Moreover, the pair formed a lower swing high which indicates a major bearish reversal. Traders will observe the pair reaction near the 153.50. If the pair could maintain the position above the support level then there is a chance of bullish reversal.

Today Critical level to watch:

Support: 153.50, 150.00, 149.20

Resistance: 156.58, 160.00

GBP/CHF

GBP/CHF is mostly lower with strong bearish momentum from the 1.2500 resistance level. The pair might extend the bearish movement and reach the 1.2300 support level. Will a bounce happen and the pair continue the recent bullish leg? We think the 1.2300 support level is a major support level for the pair to hold if the bull wants to maintain the higher swing high.

Today critical levels to watch:

Support: 1.2300, 1.2000

Resistance: 1.2500, 1.2600, 1.2700

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