Technical Analysis for Crosses

GBP/JPY

The Pound settled against the Yen yesterday around the 204 levels as the pair closed above the critical level at 204.27 yet declined below it today, if the pair managed to breach this level it might extend the upside wave to reach the 205.44, while failing to breach the 204.27 could lead the pair back to the 203.27 or even extend the downside wave to the strong support at 202.76.

Support: 203.75, 203.27, 202.76, 202.18, 201.58
Resistance: 204.27, 204.94, 205.47, 206.14, 206.81

EUR/JPY

The Euro managed to close above the good support at 162.41 which opens the way for further upside targets and might even extend to reach the 165 levels but before that the first target is set at 164.35, on intraday basis the momentum indicators are showing the possibility for an upside wave yet over the short term the pair needs a correction before rising heavily, while the point at 162.41 should continue to offer good demand for the pair, and if this level was breached the pair might drop to the 161.62 level.

Support: 162.40, 162.02, 161.62, 161.27, 160.79
Resistance: 162.81, 163.12, 163.48, 163.84, 164.27

EUR/GBP

The Euro managed to incline against the Pound to breach the 0.7971 critical level, if this level could hold against the pair it might lead it to acquire the first target at 0.8000 and from the way will be open to the 0.8040s level, while the momentum indicators are showing the pair resides within an overbought area and that could lead the pair to drop back to the 0.7930s level to gather more momentum to acquire further upside targets.

Support: 0.7971, 0.7955, 0.7940, 0.7930, 0.7918
Resistance: 0.7985, 0.8000, 0.8015, 0.8030, 0.8045

Crown Forex

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