Forex Technical Cross Pairs Analysis | June 11, 2021

EUR/JPY

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EUR/JPY made a bearish engulfing pattern close yesterday from the 133.50 resistance level. The pair might continue moving lower and target 131.50 – 132.00 support area and the bottom of the bullish channel. At the current time, the pair is trading near the previous day’s low and waiting for further bearish pressure.

If the pair reverse the bearish pressure and close higher then the bearish scenario might be canceled and the pair might attempt for a new higher high.

Today critical levels to watch:

Support: 132.00, 131.50, 130.00

Resistance: 133.50, 135.00

EUR/GBP

EUR/GBP back under pressure again below 0.8600 support level. The pair has not printed a lower low below the previous month’s low. If the pair reverse and close near 0.8600 then we might see another attempt to bounce upward.

today critical levels to watch:

Support: 0.8600, 0.8500, 0.8400

Resistance: 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY situation has not changed yet, the pair continue trading at the middle of 153.50 – 156.58. It is better to continue waiting for the pair to make a move before deciding what positions to take. Traders who have long positions will continue to hold the positions for now.

Today Critical level to watch:

Support: 153.50, 152.00

Resistance: 156.58

GBP/CHF

GBP/CHF return to 1.2700 level after previous day bullish close. The pair might return inside the 1.2700 – 1.2800 area and continue its consolidation. Not much clue where the pair will move next but trades might want to stick with the long-term bullish direction.

Today critical levels to watch:

Support: 1.2600, 1.2500, 1.2300

Resistance: 1.2700, 1.2800, 1.2900

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