Crosses Technical Analysis

GBP/JPY

The Pound continued its downside wave against the Yen breaching the major support at 211.80s yesterday, the technical indicators are showing a downside potential even if the pair resides in an oversold area, the upside wave will be confirmed if the pair manages to breach the 211.80s, but until it does the downside movement is more likely to be seen, the point at 208.82 offers a major support for the pair.

EUR/JPY

The Euro declined slightly against the Yen, yet it's still holding up against it, the short term technical indicators are showing a downside potential on intraday basis, but the general trend remains well to the upside, and the point at 158.66 offers strong demand for the pair.

EUR/GBP

The Euro continued its upside wave against the Pound as the pair reached the first target at 0.7600 and the next targets are set to be at 0.7620s and 0.7640s as the general trend remains to the upside, but the short term indicators started showing a correction might be on the way and it could take the pair to the 0.7565 which offers good demand for the pair.