Forex Technical Cross Pairs analysis November 8, 2019

EUR/JPY

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EUR/JPY was in trouble yesterday as it tested 120.00 – 120.30 support level. A lower low printed on the chart but the pair managed to bounce from the support area. It closed near the opening level and suggesting possible upward movement in the coming days/weeks. At the current time, the projection of EUR/JPY stays unchanged inside the 120.00 – 121.50 area.

Today critical levels to watch:

Support: 120.30, 120.00, 119.20, 119.00

Resistance: 121.50

EUR/GBP

We are waiting for a breakout of the box area on the EUR/GBP daily chart. Since the middle of the previous month, the price has been stuck inside the box area. No expectation that the price will move out of the box for now.

today critical levels to watch:

Support: 0.8600

Resistance: 0.8750, 0.8800

GBP/JPY

GBP/JPY soon will break out of the triangle pattern on its daily chart. Which direction will it breakout to? We favor bullish breakout following the previous bullish movement from the level near 130.00. However, be ready for a pullback to 135.00 – 136.00 too. If a pullback happens then there is an opportunity to enter long positions.

Today Critical level to watch:

Support: 140.00, 137.00, 136.00

Resistance: 141.00

GBP/CHF

No breakthrough in the GBP/CHF price movement. We redraw the trendline and now we have a triangle pattern on the chart. Traders could less volatility for now and sudden break out of the triangle range. Waiting sideline might be the best idea for now.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900, 1.3000

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