Forex Technical Cross Pairs analysis June 03, 2020

EUR/JPY

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EUR/JPY jumped from below 120.00 – 120.30 to close near 121.50. The pair extended its bullish movement today and has moved above the resistance level. However, it is losing momentum and might close below the level. We think the pair might stick near the resistance level while building more bullish momentum. It is better to avoid taking short positions now.

Today critical levels to watch:

Support: 120.30, 120.00

Resistance: 121.50, 125.00

EUR/GBP

EUR/GBP corrected lower after the test on 0.9000 resistance level. The pair currently hanging near the 0.8900 level and looking to bounce upward. If bullish bounce happens then traders will expect another test on 0.9000. We think the pair could break out above 0.9000 and continue its bullish trend toward 0.9300.

today critical levels to watch:

Support: 0.8862, 0.8750

Resistance: 0.8920, 0.9000

GBP/JPY

GBP/JPY cleared 135.00 – 136.00 area and closed with strong bullish momentum. The pair now have confirmed the medium-long-term bullish trend and will use 135.00 – 136.00 area as a support area whenever bearish pressure happens. Traders could look to enter long positions near the 135.00 – 136.00 area.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 140.00

GBP/CHF

GBP/CHF distanced itself from the 1.2000 level and currently on the upward path. The pair seems will target the 1.2300 resistance levels. At the current time, traders who want to enter long positions could wait until the pair make bearish correction toward 1.2000.

Today critical levels to watch:

Support: 1.20001.1867

Resistance: 1.2300

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