Thursday, October 4, 2007

crosses technical analysis 04-10-2007

GBP/JPY

The Pound inclined against the Yen yesterday, yet could not hold above the 237.08 resistance represented by the 200 MA, even if the general trend is up, the pair has to breach this resistance in order to continue the upside move, and the point at 236.10 seems to offer good demand for the pair.

EUR/JPY

Yesterday the Euro also inclined against the Yen, yet declined back in a correctional move, the pair is still gathering some momentum to take it to the upside and reach the first target at the 166.10 level, and the point at 163.76 seems to offer good demand for the pair.

EUR/GBP

The Euro started gaining against the Pound, and the pair moved slightly to the upside, the general trend for the pair is still to the upside, and the long term target remains around the 0.7064 level, and the point at 0.6924 seems to offer good demand for the pair.

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