Technical Analysis for Crosses

GBP/JPY

The Pound managed to rise above the 211.24 level against the Yen yesterday, this provided the pair with good upside momentum that should be able to take the pair up to the 212.67 at least, however the pair is being traded within an overbought area on intraday basis and that calls for a slight correction maybe that shouldn't extend beyond the 210.73 support level, and if the pair was able to breach the 212.67 the next target is set to be at the 213.61 level.

Support: 211.63, 211.24, 210.73, 210.13, 209.55
Resistance: 212.12, 212.67, 213.05, 213.61, 214.11

EUR/JPY

The Euro managed to rise back against the Yen yesterday after failing to breach the resistance at 169.19 which pushed the pair back to the downside, however the first target for the pair remains the 169.58 level and should be acquired within next week, while the support at 167.33 offers strong demand for the pair and should form a good base for a stronger upside wave over the short term at least.

Support: 167.88, 167.33, 166.92, 166.50, 166.05
Resistance: 168.07, 168.36, 168.68, 168.97, 169.19

EUR/GBP

The Euro dropped heavily yesterday against the Pound after the pair was able to acquire the 0.8003 target we mentioned, the pair dropped further after breaching the 0.7952 level and went back to trading within the same old range among the 0.7874 and 0.7952, however the momentum indicators are still favoring an upside wave for the pair that still targets the 0.8001 level and might even extend beyond that level.

Crown Forex

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