Forex Technical Cross Pairs Analysis | September 23, 2022

EUR/JPY

EUR/JPY fall below the 140.50 support level and currently trading near the trendline. If the pair breakout below the trendline then we might see a bearish continuation toward the 137.40 level. Further weakness and a new lower low will overturn the current bullish trend. We still think the trend will continue bullish and suggest traders wait near the support level for a chance to enter long positions.

Today’s critical levels to watch:

Support: 140.50, 137.40, 135.00, 134.50

Resistance: 145.00, 148.50, 151.50

EUR/GBP

EUR/GBP launched upward and trigger stop levels above 0.8750. The pair immediately reach the level near 0.8900. The current upward movement is incited by news from the UK where tax-cuts are announced and the country prepare for a recession. Traders will continue to avoid short positions as the trend has turned bullish. It is better to wait for a bearish correction to enter long positions near support levels.

Today’s critical levels to watch:

Support: 0.8600, 0.8580

Resistance: 0.8700, 0.8750

GBP/JPY

GBP/JPY fall sharply today and soon will print a new lower low. The pair failed to maintain the 161.00 – 164.00 range and has confirmed a bearish trend now. On the lower side, the pair will target the 153.50 support level next. Traders will wait for a bullish correction to enter short positions near resistance levels.

Today Critical level to watch:

Support: 153.50

Resistance: 161.00, 164.00, 165.00, 170.00

GBP/CHF

GBP/CHF resume the bearish trend without testing on the 1.1200 level. The pair will target the 1.0500 support level and might extend the bearish movement toward the parity level. No change to the outlook, traders could continue to wait for a bullish correction to enter short positions.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750

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