Forex Technical Cross Pairs analysis July 01, 2020

EUR/JPY

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It seems the upward movement of EUR/JPY halted near the 121.50 resistance level. Today, there is major bearish pressure toward the 120.00 – 120.30 area. The bull manages to hold out the bearish pressure at the current time. Will the bull continue to hold the pair above 120.00 – 120.30 area until the end of the day?

If the pair close below 120.00 – 120.30 area then EUR/JPY set to resume its bearish trend.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30

EUR/GBP

EUR/GBP pulled back lower and target the 0.9000 breakout level. When the pair reach the level, traders could consider entering long positions on a bullish reaction. Currently, it is better to wait until the pair reach the level and observe the reaction.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

GBP/JPY overcame the bearish pressure on 132.50 support level and managed to bounce from it yesterday. The pair is waiting for the bullish continuation above the previous day high. If there is no bullish follow-through then traders will expect the bearish pressure to restart and push the pair below 132.50.

If GBP/JPY could continue higher then 135.00 – 136.00 area will come under test again.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 135.00, 136.00

GBP/CHF

GBP/CHF made a bullish correction toward the horizontal lines. The pair has not shown a reaction near the resistance level. We think the pair will continue its bearish trend and target 1.1200 for the long-term. However, it will depend on the current reaction.

If bullish breakout happen then GBP/CHF can retest 1.1870 again.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867

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