GBP/JPY
The pair breached the support of the ascending channel shown on image signalling one more negative sign,while the negative pressure continues on the pair affected by breaching the neckline of the double top formation in addition to the pressure from the 50 EMA and the negativity on stochastic, all these factors suggest an intraday downside move for today targeting mainly 122.60 followed by 121.30.
The trading range for the day may be among the 121.30 support and 126.00 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
EUR/JPY
Trading settled within a side-way range below the 23.6% Fibonacci level and below the 50 EMA as well, while stochastic is clearly overbought over four-hour basis. Therefore, we think that the effect of the bearish technical pattern that was breached previously by breaking 106.50 remains valid. Accordingly, a downside move is likely today while trading below 106.50 is required to for the bearish expectations to remain valid.
The trading range for the day may be among the 103.00 support and 106.50 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
EUR/GBP
The pair continued to trade positively yesterday to end the day above the 76.4% Fibonacci level, thus, reviving the possibilities of resuming bullishness again and settling for the acquired downside correction from 0.8355 to 0.9083. Stochastic positivity support the bullish bias, while the descending correctional channel is pressuring the pair negatively , therefore, we recommend staying aside for today to see if the pair manages to breach the aforementioned correctional level.
The trading range for the day may be among the 0.8460 support and 0.8635 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
Please see the attached chart below.
The pair breached the support of the ascending channel shown on image signalling one more negative sign,while the negative pressure continues on the pair affected by breaching the neckline of the double top formation in addition to the pressure from the 50 EMA and the negativity on stochastic, all these factors suggest an intraday downside move for today targeting mainly 122.60 followed by 121.30.
The trading range for the day may be among the 121.30 support and 126.00 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
| Support | 123.50 | 123.15 | 122.60 | 122.00 | 121.30 |
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| Resistance | 123.90 | 124.40 | 124.95 | 125.65 | 126.00 |
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| Recommendation | Based on the charts and explanations above we recommend selling the pair around 123.90 targeting 122.30 and stop loss above 124.95 may be appropriate. | ||||
EUR/JPY
Trading settled within a side-way range below the 23.6% Fibonacci level and below the 50 EMA as well, while stochastic is clearly overbought over four-hour basis. Therefore, we think that the effect of the bearish technical pattern that was breached previously by breaking 106.50 remains valid. Accordingly, a downside move is likely today while trading below 106.50 is required to for the bearish expectations to remain valid.
The trading range for the day may be among the 103.00 support and 106.50 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
| Support | 104.95 | 104.25 | 104.00 | 103.15 | 102.65 |
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| Resistance | 106.05 | 106.50 | 107.10 | 107.45 | 108.25 |
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| Recommendation | Based on the charts and explanations above we recommend selling the pair around 106.05 targeting 104.75 and stop loss with four-hour closing above 106.50 may be appropriate | ||||
EUR/GBP
The pair continued to trade positively yesterday to end the day above the 76.4% Fibonacci level, thus, reviving the possibilities of resuming bullishness again and settling for the acquired downside correction from 0.8355 to 0.9083. Stochastic positivity support the bullish bias, while the descending correctional channel is pressuring the pair negatively , therefore, we recommend staying aside for today to see if the pair manages to breach the aforementioned correctional level.
The trading range for the day may be among the 0.8460 support and 0.8635 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
| Support | 0.8525 | 0.8500 | 0.8460 | 0.8415 | 0.8385 |
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| Resistance | 0.8595 | 0.8660 | 0.8685 | 0.8720 | 0.8805 |
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| Recommendation | Based on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move. | ||||
Please see the attached chart below.