Technical Summary for Crosses

EURJPY

The pair maintains negative near-term tone and accelerated lower, after brief consolidative action off 136.70, was capped at 137.30, by broken bear-trendline, drawn off 137.98 peak. Fresh weakness below pivotal 137.00/136.80 supports confirms resumption of reversal from 137.98 and formation of double-top at 138 zone. This signals further downside, with the notion being supported by bulls, fully established on lower timeframes studies. Descend so far retraced over 61.8% of 135.71/137.98 upleg, with extension below 136.35, 24 July / 12 Aug lows, required to confirm and open key 135.71, 08 Aug 9-month low, for retest. Corrective rallies should stay capped under 137.00/30 barriers, to keep fresh bears intact.

Res: 137.00; 137.30; 137.40; 137.65
Sup: 136.35; 136.00; 135.71; 135.00




GBPJPY

The pair’s corrective rally off 170.40, peaked at 172.66, just ahead of Fibonacci 61.8% at 172.73, below which corrective phase commenced. Slide below initial 172 support, signals prolonged consolidative / corrective phase, with hourly studies turning negative. However, 4-hour indicators are at their midlines and see fresh upside potential, as bounce higher regained 172 handle. Daily close above the latter and bullish extension through 172.30, lower top / Fibonacci 61.8% of 172.66/171.65, is required to signal and end of correction and shift near-term focus towards 172.66 peak, break of which to signal fresh extension of corrective rally from 170.40. Otherwise, violation of 171.64/59 lows, would further weaken near-term structure and trigger fresh easing, as overall tone remains weak.

Res: 172.30; 172.50; 172.66; 172.90
Sup: 171.60; 171.26; 171.00; 170.67




EURGBP

The pair maintains negative near-term tone and keeps the downside favored, as near-term price action extended losses to 0.7936, near 61.8% retracement of 0.7871/0.8034 rally. With larger picture bulls losing traction, risk turns towards the downside, for test of psychological 0.79 support and key level at 0.7871, 23 July low. Return to the latter to confirm full retracement of corrective phase from 0.7871 and bring larger bears off 0.8813, 2013 peak, in play for final push towards 2-year low at 0.7755.

Res: 0.7965; 0.7977; 0.8015; 0.8034
Sup: 0.7936; 0.7900; 0.7871; 0.7810





AUD/NZD

The pair trades in near-term consolidative mode under fresh high at 1.1183, where acceleration from 1.1055 higher base run out of steam, en-route towards psychological 1.1200 barrier. Consolidative action is for contained at 1.1125, where near-term base has been established, with hourly studies being neutral mode. However, underlying bull-trend remains intact and sees scope for fresh attempt higher, after completion of near-term consolidative phase, which should be ideally contained at 1.1125/00 levels, to keep bullish structure on 4-hour chart intact. Break above 1.1200 to open 1.1300/19, round figure/Fibonacci 76.4% retracement of 1.1576/1.0488 descend.

Res: 1.1183; 1.1200; 1.1250; 1.1300
Sup: 1.1140; 1.1125; 1.1100; 1.1081