Technical Analysis for Crosses

Daily Forex Technicals | Written by Crown Forex | Dec 05 08 09:14 GMT |

EUR/JPY The pair for the nearly past four sessions has been fluctuating below the resistance level at 118.52 which it failed to breach till now; the upside direction is supported by the momentum indicators over the medium term which are providing buy signals while still over the short term it is still not clear with volatile signals, the upside targets though over the short term remain close to 121.42 levels valid if the 118.52 was breached Support: 117.63, 117.06, 116.70, 116.38, 116.15 Resistance: 118.55, 119.01, 119.47, 119.77, 120.50 GBP/JPY The pair is still trading within the descending channel over the medium term which opens the way towards 134.00; momentum indicators over the medium term shows the pair is trading in oversold areas while buying signals are still not seen while over the short term the pair is destined for further decline. The upside targets though over the short term remain despite the downside move which reside at 137.50 which resides with the downside channel resistance and the 20 4-hour Moving Average. Support: 135.07, 134.62, 134.08, 133.65, 133.00 Resistance: 136.07, 136.80, 137.50, 137.98, 138.27 EUR/GBP The euro continued to gain against sterling yesterday as the pair set a new record high at 0.8724; momentum indicators over the short, medium and long terms are showing the pair is overbought and support a correctional move supporter by direction indicators especially that the pair now faces the resistance level for the long term trend; downside targets are now at 0.0% correction for the medium term upside wave at 0.8662 and then 0.8615. Support: 0.8700, 0.8682, 0.8662, 0.8630, 0.8618 Resistance: 0.8724, 0.8737, 0.8752, 0.8769, 0.8781 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.