Forex Technical Cross Pairs analysis October 23, 2019

EUR/JPY

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EUR/JPY closed lower below Monday low yesterday. The pair has the potential to continue moving lower and test 119.20 – 120.00 support level. Traders might want to continue to observe the pair reaction at the current time and let the pair corrected lower before placing any long positions. Short positions could be taken near 121.50 with a tight stop above it.

Today critical levels to watch:

Support: 120.00, 119.20, 119.00

Resistance: 121.50

EUR/GBP

EUR/GBP range slowly tighten as Brexit’s situation continue undecided. Traders and investors are proceeding with caution and we might not see much movement in the pair. Traders could continue to stay sideline for now.

today critical levels to watch:

Support: 0.8600

Resistance: 0.8750, 0.8800

GBP/JPY

We have a bearish close in GBP/JPY below 140.00 but no close below Monday low which means the pair close is neutral. Today, the pair attempting to move further lower. It is currently traded near the previous day low. Will GBP/JPY start bearish correction from the 140.00 resistance? Alternatively, will it resume the bullish trend above 140.00?

Today Critical level to watch:

Support: 137.00, 136.00

Resistance: 140.00, 141.00

GBP/CHF

GBP/CHF trade directionless as Brexit issue continue uncertain. No clue in the next direction and it seems the pair will trade near the current level until there is development in the Brexit issue. If the pair start moving lower then 1.2500 will become the downward target.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900

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