Forex Technical Cross Pairs analysis September 12, 2019

EUR/JPY

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Forex Technical Cross Pairs analysis September 12, 2019

The bear has appeared and EUR/JPY take a beating. Today ECB is the vital moment for traders to gauge Euro long-term trend. It seems ECB decided to lower deposit rates by 10 bps and announce a massive bond-buying program. It is dovish news and Euro should continue its downward movement for medium-long-term. EUR/JPY currently fall below 117.80 and might close below it.

We expect EUR/JPY to continue its downward movement and target 115.80.

today critical levels to watch:

Support: 116.50, 116.00, 115.80

Resistance: 117.80, 119.00

EUR/GBP

Forex Technical Cross Pairs analysis September 12, 2019

The future of the Euro is bleak and there is no reason to become long in EUR/GBP. The pair is testing July 2019 low and looking to close below it. A closure below the low will open the way toward 0.8750 or lower.

today critical levels to watch:

Support: 0.8800, 0.8750

Resistance: 0.8900, 0.8920, 0.9000

GBP/JPY

Forex Technical Cross Pairs analysis September 12, 2019

GBP/JPY traded lower today but no movement below the trendline yet. The pair might find support near the trendline and bounce upward. Traders could enter long positions near the trendline or monitor the pair reaction first before entering positions. We still expect GBP/JPY to reach 135.00 – 136.00 area.

Today Critical level to watch:

Support: 132,00, 130.00

Resistance: 133.00

GBP/CHF

Forex Technical Cross Pairs analysis September 12, 2019

The pair slightly lower but no major reaction from 1.2300 resistance. At the current time, traders will wait for a further clue on GBP/CHF next direction. A close near 1.2300 might open the breakout scenario above the resistance level.

Today critical levels to watch:

Support: 1.2075, 1.2000

Resistance: 1.2300, 1.2500

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