Forex Technical Cross Pairs Analysis | September 30, 2022

EUR/JPY

EUR/JPY continue the bullish movement and managed to print a close above 140.50 yesterday. We have a bullish close above the resistance level now which means the pair might continue its bullish trend. If the pair start moving lower again and close below 140.50 at the end of the week then we might see a bearish continuation in the coming week.

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 dropped sharply from 0.8900 – 0.9000 and soon will reach 0.8700 – 0.8750 area. The situation is normal as the pair has printed a new higher high. There is a high chance a new higher low will be printed when 0.8700 – 0.8750 is tested. Traders will wait for the pair to print strong bullish reactions near 0.8700 – 0.8750 for a chance to enter long positions.

Today’s critical levels to watch:

Support: 0.8900, 0.8750, 0.8700

Resistance: 0.9000, 0.9300

GBP/JPY

GBP/JPY traded upward sharply and closed near the 161.00 resistance level. At the current time, the pair is testing the 161.00 level and will attempt to close above it. If the pair managed to close above 161.00 then we might see consolidation between 161.00 – 164.00. On the other hand, bearish reversal might bring the pair down to test 156.58 – 158.15 area.

Today Critical level to watch:

Support: 156.58, 153.50

Resistance: 161.00, 164.00

GBP/CHF

GBP/CHF started a bullish correction with 1.1200 as the upward target. Traders will wait until the pair reach resistance level and form bearish reactions to enter short positions. We think the pair will continue the bearish trend and print a new lower low again before the actual bullish trend started.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1200, 1.1530, 1.1600, 1.1750

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