Technical Analysis for Crosses

EUR/JPY

The Euro also continued to fall against the Yen, as the pair was able to breach through the 168.18 level which provided the pair with strong downside momentum that took it to the next support at 167.65 in which the pair is now trading around, if this level was also breached the pair will face its last level that could bring back the upside trend over the short term among the area at 166.49-167.09 which represents strong demand for the pair.

Support: 167.65, 167.35, 167.09, 166.76, 166.49
Resistance: 167.95, 168.18, 168.58, 168.98, 169.19

GBP/JPY

The long awaited correctional wave took place finally for the Pound against the Yen, the pair had been trading within an overbought area for a while now, as the pair managed to acquire the target at 215.80s, and now the level at 211.24 should be able to provide the pair with the needed upside momentum to rise back, since the pair is now being heavily oversold on intraday basis and that could lead it back to the upside today.

Support: 211.75, 211.24, 210.71, 210.20, 209.87
Resistance: 212.12, 212.87, 213.31, 213.85, 214.40

EUR/GBP

The Euro rose back yesterday against the Pound, as the pair was able to rebound from the strong support at 0.7847 which provided the pair with very strong upside momentum that took back to trade within the old range, however the momentum indicators are pointing that the pair is heavily overbought on intraday basis and that might lead the pair into a slight correction, however it won't change the upside outlook for the pair yet we need the pair to close above the 0.7909 to confirm further gains for the pair.

Support: 0.7909, 0.7893, 0.7878, 0.7863, 0.7847
Resistance: 0.7920, 0.7932, 0.7944, 0.7958, 0.7970

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.