Forex Technical Cross Pairs analysis October 9, 2019

EUR/JPY

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EUR/JPY has not moved far from 117.80 handles. The pair is in a “wait and see” mode before the trade negotiation between the U.S and China. Today, there is positive news as China says that they are open to a partial trade deal. However, the real reaction might happen tomorrow when the meeting kick-off.

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

today critical levels to watch:

Support: 116.00, 115.80

Resistance: 117.80, 119.00, 119.20

EUR/GBP

EUR/GBP moves upward to test 0.9000 resistance and shows no major reaction yet from the resistance level. It is expected to trade between 0.8920 – 0.9000 now. Traders will observe the pair reaction inside the range. Both Brexit news and U.S-China trade talk might have a big influence on the pair direction.

today critical levels to watch:

Support: 0.8920, 0.8900

Resistance: 0.9000

GBP/JPY

A bullish reaction happens in GBP/JPY today at the bottom trendline. The pair might start a bounce but we think it might not move far from the trendline. The overall trend of GBP/JPY will continue bearish as long as there is no positive development on Brexit.

Today Critical level to watch:

Support: 130.00

Resistance: 132,00, 133.00, 134.00

GBP/CHF

GBP/CHF slipped below the triangle pattern and printed a breakout candlestick. The pair might continue downward and reach 1.2000. However, if the pair could return inside the triangle by the end of the week then we might see the pair continue its recent bullish pressure.

Today critical levels to watch:

Support: 1.2075, 1.2000

Resistance: 1.2300, 1.2500

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