Forex Technical Cross Pairs analysis July 18, 2019

EUR/JPY

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EUR/JPY extend its bearish movement today and fall below the bullish trendline. The pair is in a critical situation and need to return above the trendline to avoid further sell-off. At the current time, EUR/JPY managed to erase most of its losses and might be able to close near its opening level.

Support: 121.00, 120.00

Resistance: 121.50, 122.00, 123.00, 123.30

EUR/GBP

EUR/GBP started a bearish correction today. We draw a channel where the pair comfortably moving upside. The pair soon will reach the bottom of the channel and test it. Traders could expect a bounce and bullish continuation as long as the channel hold-out against the bearish pressure.

today critical levels to watch:

Support: 0.9000, 0.8920, 0.8900

Resistance: –

GBP/JPY

A bullish reaction is seen today in GBP/JPY. Is it the time for GBP/JPY to start bullish correction? No answer to the question yet but traders who want to try their luck with long positions could try at the bottom trendline. We still suggest traders stick with short positions in the long-term as long as Brexit show no major development.

Today Critical level to watch:

Support: 134.00

Resistance: 135.00, 136.00, 137.40

GBP/CHF

GBP/CHF attempting to return above 1.2300 today. It might close above it, but the odds might be better to the short side. The pair showing sign of rejection from the top of its bearish channel. Wait until the close of the day to determine if GBP/CHF will continue its bearish movement inside the channel or breakout above it.

Today critical levels to watch:

Support: –

Resistance: 1.2300, 1.2500

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