Forex Technical Cross Pairs Analysis | July 18, 2022.
EUR/JPYcontinue trading upward after the bounce from 137.40 support level. The bullish movement might reach the 140.50 resistance level soon. If the pair could close above the resistance level then we might see bullish continuation to target new higher high. On the other hand, rejection from the resistance level will confirm ranging movement between 137.40 – 140.50.
Today’s critical levels to watch:
Support: 137.40, 135.00, 134.50.
Resistance: 140.50, 145.00, 148.50, 151.50.
EUR/GBP.
EUR/GBP trading upward and now reach the 0.8500 level. Will the pair get rejected and resume the bearish movement to target the level below 0.8400? Alternatively, will it close above 0.8500 and target the 0.8580 – 0.8600 resistance area again? Traders will monitor the pair reaction near the 0.8500 level for now.
Today’s critical levels to watch:
Resistance: 0.8500, 0.8580, 0.8600, 0.8700.
GBP/JPY.
GBP/JPY return above 164.00 last week and currently trading near it. No confirmation yet that the pair will continue the bullish movement. Traders might see the pair consolidating near the 164.00 level while the market awaits ECB & The Fed interest rate decision. If the pair start moving lower again then 161.00 will continue to become the support level to watch.
Today Critical level to watch:
Resistance: 164.00, 165.00, 170.00.
GBP/CHF.
GBP/CHF stick near the 1.1600 support level and awaiting a further reaction. There is no bullish reaction yet which means the bear is in control. If the pair closes below 1.1600 and prints a new lower low then the bearish trend is set to continue. At the current time, the pair might range between 1.1600 – 1.1750.