Forex Technical Cross Pairs Analysis | October 04, 2022

EUR/JPY

EUR/JPY continues trading upward above the 140.50 level. The pair is expected to maintain the current bullish pressure and target a new higher high. Traders will wait for a bearish correction toward 140.50 for a chance to enter long positions near the support level. On the upside, 148.50 – 151.50 is the long-term target for the bullish movement.

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 under major bearish pressure and closed below 0.8700. Despite the situation, there is a chance of a bullish reversal from the area and the pair could continue the bullish trend. Traders will observe the pair movement near the current level for now. A close above 0.8750 is the bullish confirmation to enter long positions.

Today’s critical levels to watch:

Support: 0.8750, 0.8700

Resistance: 0.8900, 0.9000, 0.9300

GBP/JPY

GBP/JPY is mostly bullish and currently trading near the 164.00 level. The pair show slight bearish reactions today but we need more confirmation to determine the next direction. If the pair failed to close above 164.00 then we might see consolidation between 161.00 – 164.00. A close below 161.00 might become a bearish confirmation for continuation.

Today Critical level to watch:

Support: 156.58, 153.50

Resistance: 161.00, 164.00

GBP/CHF

GBP/CHF reached the 1.1200 resistance level after the bounce from 1.0500. The pair might stick near the level, for now, waiting for further reactions. If the pair get rejected and make a strong bearish close then traders will prepare for a bearish continuation to target 1.0500 and parity level.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750

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