Forex Technical Cross Pairs analysis October 10, 2019

EUR/JPY

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EUR/JPY launch from 117.80 and almost reach 119.20 resistance. It seems the positive development of Brexit and U.S-China trade talk gives the current boost. How long will the upward movement last? It will depend on the final result of both events. Meanwhile, the projection of EUR/JPY continues limited between 117.80 – 119.20.

Not much to expect at the moment in EUR/JPY.

today critical levels to watch:

Support: 117.80, 116.00, 115.80

Resistance: 119.00, 119.20

EUR/GBP

A major and timely reaction happen in EUR/GBP today. The pair rejected from 0.9000 resistance and fall sharply below 0.8920. It could mark the start of a new bearish trend in the pair. If the bearish pressure continues then we could expect the pair to target 0.8750 before the end of the month. Brexit events should be monitored to predict the pair’s next movement.

today critical levels to watch:

Support: 0.8800, 0.8750

Resistance: 0.8900, 0.8920, 0.9000

GBP/JPY

Technically, GBP/JPY bounces from the bottom trendline and move upward sharply. Fundamentally, there might be a breakthrough in the Brexit issue. If the situation continues positive on Brexit then we could expect GBP/JPY to test 135.00 – 136.00 resistance soon.

Today Critical level to watch:

Support: 133.00, 132,00, 130.00

Resistance: 134.00

GBP/CHF

GBP/CHF return inside the triangle area and might close above 1.2300. This sudden bullish development will wait on the result of the meeting between UK Boris Johnson and Irish Leo Varadkar. Traders might want to stay sideline for now and wait for the result.

Today critical levels to watch:

Support: 1.2075, 1.2000

Resistance: 1.2300, 1.2500

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