Forex Technical Cross Pairs Analysis | October 19, 2020

EUR/JPY

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EUR/JPY bearish movement has reached the 123.30 support level target. The pair will wait for a reaction from the level this week. If the pair bearish pressure continues to add up then EUR/JPY could extend its bearish movement toward 121.50. On the other hand, if a bounce happens then the pair could target 125.00.

Today critical levels to watch:

Support: 123.30, 121.50

Resistance: 125.00, 127.00

EUR/GBP

EUR/GBP has not decided on the next direction as the pair continues its close inside the channel. No bullish breakout and the pair might start pressuring the 0.9000 support level. If a bearish breakout happens instead of a bullish breakout then traders will prepare for a test on 0.8920.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9100, 0.9300

GBP/JPY

GBP/JPY was under strong bearish pressure last week. The pair mostly lower but maintained the close above 136.00 If the bull could start adding bullish pressure from the current level then traders could expect the bullish continuation toward 140.00. However, if the pair start moving lower and close below 135.00 then we will expect long-term bearish movement.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 140.00, 142.50

GBP/CHF

No decisive movement yet in GBP/CHF last week. The pair whipsawing sharply inside the 1.1750 – 1.1870 area without clear direction. Traders will continue waiting for the pair to move away from levels to determine the next long-term direction. We still think the pair will continue its long-term bearish trend below the 1.1750.

Today critical levels to watch:

Support: 1.1750

Resistance: 1.1870, 1.2000

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