Technical Analysis for Crosses

EUR/JPY

The pair is consolidating within narrow ranges between the 149.03 support and the 150.59 resistance level. The Relative strength indicator on the four hour chart is showing the need for an upside correction supported by the Stochastic indicator on the daily charts as the pair is being oversold. Yet we don't expect the upside movement to be strong enough to breach the mentioned resistance level.

Support: 149.29, 149.03, 148.75, 148.59, 148.27
Resistance: 149.76, 150.13, 150.31, 150.59, 150.84

GBP/JPY

The 61.8% correction level for the descending channel at 187.78 was able to halt further losses yesterday resulting in a rebound to the upside as the pair is currently trading within very narrow levels. However, we could perhaps see an upside correction as the pair is being slightly oversold on the daily and weekly charts that could take the pair back to the 190 levels.

Support: 188.55, 187.78, 187.09, 186.57, 186.14
Resistance: 189.52, 190.05, 190.56, 190.98, 191.40

EUR/GBP

Trading is of low volumes today as the direction and momentum indicators show a neutral trend. We expect trading to continue through this pattern unless we see a successful breach of the 0.7905 support or 0.7935 resistance that will lead the pair to reach new levels.

Support: 0.7905, 0.7887, 0.7863, 0.7851, 0.7843
Resistance: 0.7922, 0.7935, 0.7945, 0.7962, 0.7978

Crown Forex

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