Crosses Technical Analysis

GBP/JPY

The Pound declined against the Yen with the start of today's trading as investors reduced their carry trades, yet the general trend remains to the upside, the pair reached both targets we talked about before yet couldn't hold above those levels, the first target now is set at the 225.50s level, and the point at 223.32 seems to offer good demand for the pair.

EUR/JPY

The Euro also declined against the Yen as investors reduced their carry trades, the general trend for the pair is still to the upside, and targets now are set at 161.70s then 162.30s, the pair lacks some momentum to reach the previous mentioned levels, and the point at 159.90 seems to offer good demand for the pair.

EUR/GBP

The Euro seems to be consolidating against the Pound, as the pair is yet to gather some momentum to progress the upside general trend, though we witnessed a slight correction but the pair is expected to incline again as the long term indicators are favoring the Euro, and the point at 0.7144 seems to offer good demand for the pair.