Forex Technical Cross Pairs analysis May 01, 2020

EUR/JPY

A solid bullish jump in EUR/JPY is what needed to reverse the current bearish pressure. EUR/JPY notched massive gain and surpassed 10 days range. The pair currently waiting for further bullish follow-through above 117.80. Traders will let the pair moving to the upside for now with 119.20, 120.00, and 120.30 as the target.

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Today critical levels to watch:

Support: 116.30, 115.80, 114.80

Resistance: 117.80, 119.20, 120.00, 120.30

EUR/GBP

EUR/GBP printed further lower low on the chart but immediately reversed it’s lost today. The pair currently move higher with strong bullish momentum, testing the 0.8750 resistance. No breakout from 0.8700 – 0.8750 range yet and the pair might continue stick inside the range.

today critical levels to watch:

Support: 0.8700

Resistance: 0.8750, 0.9000, 0.9300

GBP/JPY

The bull is not giving up yet in GBP/JPY. The pair stage rally yesterday and managed to close near 135.00. However, there is no bullish follow-through yet today, instead, the pair slightly lower. If the pair losing more ground and close near the previous day opening level then it is the time for further weakness in GBP/JPY.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 134.50, 135.00, 136.00

GBP/CHF

GBP/CHF indicates a more bullish outlook last week after the bounce from 1.2000. But the pair could not strike decisive bullish momentum near the high and currently losing ground. If the bearish pressure continue then GBP/CHF might continue moving lower and reach 1.2000 again.

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2120, 1.2300

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