Crosses Technical Analysis

GBP/JPY

The Pound/Yen pair and just as expected continued its bearish movement yesterday, reaching to a very strong support and a trend line at 223.50, if this line is penetrated even the long term upside trend will be penetrated, so look today to buy dips around that level.

EUR/JPY

The Euro pair is still stuck in a very thin range, still marinating the upside trend over the medium to long term trends, yet over the short term it looks neutral with more of a bearish tendency, yet target are really tied. The level 163.09 looks like a good supply point, while 162.10 offer a good demand.

EUR/GBP

The Euro is still climbing against the pound as we expected, recording a new all time high at 0.7248 so far, and heading solidly towards the 0.7300 area, where demand today is seen around the 0.7225 levels.