Technical Analysis for Crosses

GBP/JPY

The GBP/JPY pair accomplished the initial target we proposed at 151.60, and now it continues the upside bias to test 152.00. That retains expectations of an uptrend with next target starting at 153.00. The Moving Average 50 supports the proposed rise however it requires the pair to steady above 151.00.

Support: 151.00, 150.70, 149.80, 148.85, 148.50
Resistance: 152.00, 152.40, 153.15, 153.75, 154.25

Recommendation Based on the analysis above, we recommend buying the pair above 151.00, targeting 152.00 and 153.00 and stop-loss with 4-hour closing below 149.90.



EUR/JPY

The EUR/JPY pair continues trading with an upside bias and is attempting to reside above 131.00, boosting forecast for an uptrend. That bullish trend targets mainly 133.55. The Stochastic and the Moving Average 50 offer sound support to the expected positivity, which stands intact if the pair resides above 130.30, or more importantly above 129.30.

Support: 130.70, 130.30, 129.85, 129.30, 128.60
Resistance: 131.05, 132.15, 132.40, 133.00, 133.75

Recommendation Based on the analysis above, we recommend buying the pair above 130.30, targeting 132.00 and stop-loss with 4-hour closing below 129.65.



EUR/GBP

The pair is attempting to bounce after falling sharply yesterday, forming a bearish engulfing candle, and hints we may see further downside correction probably towards 0.8590-0.8580 area. However, the overall bullish structure remains valid

Support: 0.8625, 0.8600, 0.8575, 0.8550, 0.8700
Resistance: 0.8675, 0.8700, 0.8740, 0.8775, 0.8800

Recommendation Long above 0.8590, targets at 0.8630,0.8600 and 0.8700. Stop loss below 0.8550

IMOH, Clement I.
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