Forex Technical Cross Pairs analysis October 22, 2019

EUR/JPY

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No Conclusive movement yet in EUR/JPY since the pair tested the level near 121.50. It seems the pair will continue to stick near the resistance level and waiting for further reactions. If a bearish correction happen then we will expect EUR/JPY to move lower and target 119.20 – 120.00.

Today critical levels to watch:

Support: 120.00, 119.20, 119.00

Resistance: 121.50

EUR/GBP

The situation has not changed yet in EUR/GBP, the pair under pressure but no lower low printed on the chart. As long as the pair could maintain the current position then there is a chance for a bounce. On the other hand, if the pair could not cross above the blue trendline or 0.8750 then we could expect further bearish movement.

today critical levels to watch:

Support: 0.8600

Resistance: 0.8750, 0.8800

GBP/JPY

More upside or time for a correction? No answer yet for GBP/JPY next direction. The pair maintain the close above 140.00 despite the rejection of Brexit draft by UK parliament. The market has priced in deadline extension for now and could take a breather if the extension approved.

Today Critical level to watch:

Support: 140.00, 137.00, 136.00

Resistance: 141.00

GBP/CHF

A correction is due in GBP/CHF but there is no strong bearish reaction from the pairs. It might continue the move higher and test 1.2900 before deciding the next direction. Traders could prepare for short positions between 1.2900 – 1.3000 when there is major bearish reversal pattern.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900

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