Technical Analysis for Crosses

EUR/JPY

The Euro also declined heavily last week against the Japanese Yen but the pair managed to rise back on Friday after hitting the strong support level at 132.06 which provided the pair with huge upside momentum since it was also being traded within an oversold area according to the momentum indicators which further supported the rise, the pair is still undergoing a long term correctional wave which till now managed to breach the 38.2% correctional level at 138.81 and the pair seemingly heading towards the 50% correctional level at 129.29 given the 132.06 support level is breached and the pair remains trading below the 138.81 level.

Support: 137.08, 136.66, 136.15, 135.80, 135.49
Resistance: 137.63, 137.90, 138.29, 138.81, 139.19

GBP/JPY

The British Pound managed to rise back on Friday against the Japanese Yen after the pair hit the main support for the downside channel at 166.77 which provided the pair with strong upside momentum given it was being traded within an oversold area which further supported the upside reversal, the pair breached last week the main support fir the long term upside trend and as long as it remains trading below the 176.77 on a weekly basis, the downside trend will remain.

Support: 172.08, 171.53, 170.98, 170.43, 169.89
Resistance: 172.63, 173.17, 173.72, 174.27, 174.82

EUR/GBP

The Euro managed last week to cover up some of its acquired losses against the British Pound after the pair hit the strong support level at 0.7700 which provided strong upside momentum for the pair to rise back to the 0.7900 levels, the pair is now trading among two key levels over the short term, the support at 0.7909 which if breached will take the pair down to the 0.7860s level, and the 0.7968 resistance which if breached will take the pair up to the 0.8000s level.

Support: 0.7931, 0.7920, 0.7909, 0.7895, 0.7880
Resistance: 0.7943, 0.7956, 0.7968, 0.7980, 0.7992

Crown Forex

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