Technical Analysis for Crosses

Daily Forex Technicals | Written by Crown Forex | Nov 07 08 08:27 GMT |

EUR/JPY The Euro also continue to fall against the Japanese Yen however the pair managed to remain above the 123.62 level which helped the pair gain some upside momentum, however the momentum indicators continue to provide mixed signals which means the pair might continue to fluctuate heavily today, but we don't expect the pair to rise above the 127.23 level today. Support: 124.02, 123.62, 123.26, 122.78, 122.16 Resistance: 124.57, 125.05, 125.53, 126.02, 126.50 Recommendation: Sell below 125.12 with a target at 123.62 and a stop loss above 126.75 GBP/JPY The Pound continued to fall against the Yen as the pair breached the 23.6% correctional level at 156.91 which led the pair to drop further today back to the 150 levels the target we mentioned, however the pair rebounded after it was trading within an oversold area, yet the momentum indicators now show mixed signals which leads us to believe the pair will continue to fluctuate heavily. Support: 152.71, 152.04, 151.36, 150.71, 150.24 Resistance: 153.17, 153.74, 154.30, 154.98, 155.66 Recommendation Sell below 153.34 with a target at 150.24 and a stop loss above 154.74 EUR/GBP The Euro rose back today against the British Pound as the pair now managed to breach the 0.8154 resistance level which if confirmed the pair's next target will be set at 0.8200 and then 0.8249, the momentum indicators however show that the pair is being traded within an overbought area and that might lead it to indulge in a correctional wave on intraday basis. Support: 0.8176, 0.8154, 0.8148, 0.8133, 0.8114 Resistance: 0.8190, 0.8202, 0.8220, 0.8235, 0.8249 Recommendation Buy above 0.8154 with a target at 0.8200 and a stop loss below 0.8114 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.