Technical Analysis for Crosses

Daily Forex Technicals | Written by Crown Forex | Oct 09 08 06:35 GMT |

EUR/JPY

As investors gained their appetite, the Euro was able to incline against the Yen but is finding difficulty to breach the resistance level at 138.26 as it recorded the high for today at 138.34. However, as the pair is being oversold we could see another attempt to retest the mentioned level but please note that trading could be of high volatility as we see contradiction on the ADX indicator.

Support: 136.98, 136.78, 136.45, 136.02, 135.66
Resistance: 137.21, 137.63, 138.02, 138.26, 138.76
GBP/JPY

The GBP/JPY pair is trading around the 74.6% correction for the long term ascending channel at 174.42 and still has the chance to breach it if the pair successfully gathers enough bullish momentum which will open the way to levels near 176.00. We expect to see volatility in the markets today between the 171.62 support and the 174.42 resistance levels.

Support: 172.67, 172.10, 171.62, 171.21, 170.77
Resistance: 173.96, 174.42, 174.87, 175.32, 175.97
EUR/GBP

The Euro surged versus the pound to enter the consolidation area after successfully breaching the 23.6% correction for the upside channel at 0.7796. However, the 100 day moving average on the daily charts at 0.7930s is currently halting further gains for the pair. Momentum and direction indicators have adjusted on the technical charts suggesting that the neutral trend could perhaps prolong.

Support: 0.7900, 0.7892, 0.7880, 0.7863, 0.7846
Resistance: 0.7932, 0.7945, 0.7957, 0.7970, 0.7986

Crown Forex

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