Forex Technical Cross Pairs analysis July 08, 2020

EUR/JPY

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EUR/JPY still could not climb and close above 121.50 resistance level. The pair continue the consolidation near the resistance level for now. Traders might want to wait for a further reaction from the 121.50 resistance level. If the pair formed a major bearish pattern then traders could enter short positions.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20

Resistance: 121.50, 123.30

EUR/GBP

EUR/GBP unexpectedly closed below 0.9000 support levels and put the bullish scenario on a halt. The pair might continue to stick near the 0.9000 for now. If the bull could reverse the pressure and start to bring the pair higher then traders will expect bullish continuation.

On the downside, as long as there is no close below 0.8920, there is a chance for the pair to continue higher.

today critical levels to watch:

Support: 0.8920

Resistance: 0.9000, 0.9300

GBP/JPY

GBP/JPY reached the 135.00 resistance level yesterday. The pair has not shown bullish continuation yet in today’s trading session. If we have a major bearish reaction and a close below previous day low then traders will expect the bearish continuation to target 130.00.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 135.00, 136.00

GBP/CHF

Similar to the previous day analysis, the GBP/CHF trend is bearish and 1.1870 also 1.2000 are the levels to look for short positions. Yesterday we have a bullish close but we might see the pair start moving lower again today. The bearish continuation will be confirmed when the pair closes below previous day low.

Today critical levels to watch:

Support: 1.1700, 1.1500

Resistance: 1.1867, 1.2000

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