Forex Technical Cross Pairs Analysis | May 03, 2021

EUR/JPY

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EUR/JPY reached the 131.50 – 132.00 area. There was a bearish reaction from the resistance area but the pair seems to manage to hold out inside the range. We think the pair will consolidate inside the range and continue its bullish movement to target 133.50 and 135.00.

Today critical levels to watch:

Support: 131.50, 130.00

Resistance: 132.00, 133.50, 135.00

EUR/GBP

EUR/GBP keeps sticking near the 0.8700 resistance level. If the pair could continue pressuring the resistance level then we might see a breakout soon. The same strategy as before, traders will continue holding long positions and avoid shorting the pair for now until there is a major bearish reaction.

today critical levels to watch:

Support: 0.8600, 0.8500, 0.8400

Resistance: 0.8700, 0.8750, 0.8860

GBP/JPY

GBP/JPY is currently trading in the middle of 150.00 and 153.50. There was a bearish reaction at the end of the previous week. However, the pair has erased most of its loss and currently trading upward. We think the pair will continue its bullish movement and retest the 153.50 resistance level soon.

Today Critical level to watch:

Support: 150.00, 147.50, 145.00

Resistance: 152.00, 153.50, 156.58

GBP/CHF

A lower low has been printed on the GBP/CHF chart. The pair might continue its bearish movement and target 1.2500. However, the bull seems taking control back today by erasing all of the loss incurred on Friday. No clear direction yet for the pair. If the pair could close above 1.2700 then the bullish pressure might turn into another bullish leg. On the other hand, if the bullish pressure reverse and there is another lower low then traders will prepare for a bearish continuation toward 1.2500.

Today critical levels to watch:

Support: 1.2700, 1.2500, 1.2300

Resistance: 1.2800, 1.2900

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