Forex Technical Cross Pairs analysis January 30, 2020

EUR/JPY

EUR/JPY trade between 120.00 – 120.30 and continue put downward pressure on the support area. Today, the pair manage to fall below the previous day low but it currently returns above it. It seems the pair will make another close near the 120.00 – 120.30 area before tomorrow Brexit.

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After the official Brexit event, EUR/JPY might move sharply and there is no clue yet on which direction the pair will move next.

Today critical levels to watch:

Support: 120.00

Resistance: 120.30, 121.50, 122.00

EUR/GBP

No rate-hike by BOE today and GBP putting pressure on most major pairs. However, the situation is a stalemate in EUR/GBP as EUR also gaining across the global market. The upward pressure on EUR and GBP incited by weak GDP data from the U.S. It seems the pair will stall before tomorrow Brexit event.

today critical levels to watch:

Support: 0.8400, 0.8325

Resistance: 0.8500, 0.8600, 0.8750

GBP/JPY

GBP/JPY building up bullish pressure after BOE decide to hold interest-rate steady. The event takes place before tomorrow Brexit and no one knows what impact Brexit event will give to the pair. At the current time, GBP/JPY attempting to move above 142.50.

If a close above 142.50 happens then GBP/JPY may continue its upward movement.

Today Critical level to watch:

Support: 141.00, 140.00

Resistance: 142.50, 144.33, 145.00

GBP/CHF

GBP/CHF steady near the 1.2700 resistance and might stick near the level before tomorrow Brexit. No breakout happens and the ranging movement between 1.2500 – 1.2700 might continue.

Today critical levels to watch:

Support: 1.2600, 1.2500, 1.2300

Resistance: 1.2700, 1.2900, 1.3000

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