Technical Analysis for Crosses

EUR/JPY

Trading for today on the pair might witness slight volatility as we see momentum indicators adjusting on the daily and weekly charts yet trading within an overbought area on the four hour charts. However, the ADX indicator is supporting the upside movements for today. So we expect the pair to decline slightly to 151.40s to gather enough momentum before retesting the 23.6% Fibonacci level for the medium term downside wave at 152.31 and if successfully breached the next short term target is at the 23.6% correction at 152.72 for the long term ascending channel. A good demand point for the pair is at 151.45.

Support: 151.45, 150..97, 150.57, 150.29, 150.13
Resistance: 152.08, 152.31, 152.72, 153.05, 153.52

GBP/JPY

The incline seen yesterday and today as the pair is currently trying to successfully breach the 23.6% correction for the medium term descending channel at 193.08 might not last long as technical indicators show the need for a downside correction on several timeframes perhaps to 192.09. Despite direction indicators supporting the pair to the upside, further gains will be limited unless we witness a correction before retesting the 23.6% correction where if broken, this will open the way to the 197 levels in the medium term.

Support: 192.09, 191.65, 191.25, 190.69, 190.13
Resistance: 193.08, 193.64, 194.20, 194.65, 195.19

EUR/GBP

The 200 day moving average on the daily charts was able to limit downside gains for yesterday and today so far. According to the stochastic indicator, the pair is being oversold on the daily and four hour charts showing the possibility of an upside correction supported by the ADX indicator to the 76.4% correction at 0.7886 yet as the pair lacks enough bullish momentum we don't expect this level to be breached today.

Support: 0.7863, 0.7851, 0.7839, 0.7824, 0.7809
Resistance: 0.7887, 0.7898, 0.7915, 0.7925, 0.7937

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.