Forex Technical Cross Pairs Analysis | October 03, 2022

EUR/JPY

EUR/JPY climb above the 140.50 level and currently maintain the position above it. The pair will use the level as a support level when a bearish pullback happens. Traders will continue to hold long positions for now and await bearish correction to add more long positions. If the pair could climb and print a new higher high then the bullish trend is set to continue.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP sharply lower after the rejection from 0.8900 – 0.9000 area. The pair continue the bearish movement today and reach 0.8700 – 0.8750. We think a bullish bounce will happen from the current area but traders might want to wait until the bearish pressure receded before entering long positions.

Today’s critical levels to watch:

Support: 0.8900, 0.8750, 0.8700

Resistance: 0.9000, 0.9300

GBP/JPY

GBP/JPY return inside the 161.00 – 164.00 area where it might consolidate inside it. The pair’s bullish pressure has not subsided yet which means a test on the 164.00 level might happen. Traders will monitor the pair reactions inside the area. If the pair form major bearish reactions then traders could enter short positions.

Today Critical level to watch:

Support: 156.58, 153.50

Resistance: 161.00, 164.00

GBP/CHF

GBP/CHF trading upward from the 1.0500 level. The pair soon will reach the 1.1200 level and test it. As the pair currently undergo a bullish correction phase, traders will wait for bearish reactions near the resistance level for a chance to enter short positions. A close above 1.1600 might become confirmation that the trend has a chance from bearish to bullish.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750

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