Technical Analysis for Crosses

Daily Forex Technicals | Written by Crown Forex | Jul 29 08 07:18 GMT |

EUR/JPY The Euro declined slightly yesterday against the Yen as the pair failed to breach the resistance at 169.65 and that led the pair to drop as it needed to gather more momentum to be able to break through this level, however the pair must remain trading above the 168.27 to confirm further upside waves over the upcoming period and this level represents a good demand point for the pair. Support: 169.19, 168.98, 168.62, 168.32, 168.07 Resistance: 169.46, 169.65, 169.99, 170.28, 170.47 GBP/JPY The Pound slightly declined against the Yen yesterday however the pair remains trading within its upside short and medium trends, the momentum indicators started to provide a reversal signal to the upside which could as well lead the pair into acquiring the 215.80s target, meanwhile the 212.88 level still provides the pair with good demand over the short term, we should note that we don't expect the pair to break through the 215.80s level, but if it does the next target will be set at the 216.91 level. Support: 213.93, 213.34, 212.88, 212.40, 211.89 Resistance: 214.45, 214.87, 215.32, 215.83, 216.48 EUR/GBP The Euro rose yesterday against the Pound however the pair failed to breach the resistance at 0.7912 which is represented by the 100 days Moving Average and the by the main support line for the Triangular model, and as long as the pair remains trading below this level it will be targeting the 0.7840s level, but breaching the 0.7912 resistance would lead the pair back to the 0.7966 at least. Support: 0.7878, 0.7863, 0.7852, 0.7840, 0.7829 Resistance: 0.7890, 0.7901, 0.7912, 0.7927, 0.7940 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.