Forex Technical Cross Pairs analysis July 07, 2020

EUR/JPY

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EUR/JPY made another bullish attempt on the 121.50 resistance level. So far no close above the resistance level. Although the situation looks bullish, without any close above 121.50, EUR/JPY might reverse and start moving lower again. Traders will continue waiting for a further reaction from the 121.50 resistance level.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30

EUR/GBP

EUR/GBP expected to continue the bullish bounce from 0.9000 and start a bullish rally above the previous swing high. Yesterday, the pair made a bullish reaction from the 0.9000 support level. If the bull could continue to push the price higher today then traders will expect the continuation of the bullish trend.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9300

GBP/JPY

GBP/JPY shows no bullish continuation toward the 135.00 – 136.00 area yet. The pair traded sideways at the current level and waiting for the trigger to move. If the pair move higher then traders could look for short positions near the 135.00 – 136.00 area. On the other hand, if the pair moves lower then traders will observe the test on 132.50 – 133.00 area.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 135.00, 136.00

GBP/CHF

GBP/CHF overall trend is bearish below the 1.1870 resistance level. The pair bullish attempt shows weakness and might restart its bearish movement again. No confirmation yet where the pair will move next. Traders who has short positions could continue to hold the positions.

Meanwhile, 1.1870 – 1.2000 is the area to look for short positions.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867, 1.2000

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