Forex Technical Cross Pairs analysis May 05, 2020

EUR/JPY

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EUR/JPY rejected from the 117.80 resistance and the pair closed near 115.80. No breakout below the support level and currently the bull attempting to make a bounce from the support level. Long positions with a stop below 116.00 might be the option, traders could take for now.

Today critical levels to watch:

Support: 116.30, 116.00, 115.80, 114.80

Resistance: 117.80, 119.20, 120.00, 120.30

EUR/GBP

It is up to the bull now to bring the pair further higher or let it return inside 0.8700 – 0.8750 range. The pair currently under pressure and testing the 0.8750 level. Traders who want to take long positions could take in inside 0.8700 – 0.8750 with a stop below 0.8700.

today critical levels to watch:

Support: 0.8750, 0.8700

Resistance: 0.8862, 0.9000, 0.9300

GBP/JPY

Not much reaction yet from the horizontal line which means GBP/JPY might continue moving sideway near the support level. Traders will continue waiting for more reaction from the support level. If the support is broken then GBP/JPY set to target 130.00.

Today Critical level to watch:

Support: 133.00, 132.50, 130.00

Resistance: 134.50, 135.00, 136.00

GBP/CHF

GBP/CHF closed near 1.2000 and extend its neutral reaction near the level. Today, there is a bullish attempt to bounce from the support level. Will the pair finally bounce from the support and start a new bullish leg?

Today critical levels to watch:

Support: 1.2000

Resistance: 1.2120, 1.2300

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