Technical Summary for Crosses



EURJPY

The pair remains well supported and extended recovery rally from 135.80 low, where double-bottom was left. Fresh strength through key 138.27 barrier, 03 Sep previous high, continues to post new highs, en-route towards next targets at 139, round-figure level, also 50% retracement of 142.35/135.71 descend and 139.26, 03 July lower top. Four consecutive closes in positive tone, as well as completion of Three White Soldiers reversal pattern, supports the notion, with completion of 139.26/135.71 bear-phase, expected to open psychological 140 barrier. Weekly close above 138 handle is required to keep the structure intact.

Res: 139.00; 139.26; 139.51; 140.07
Sup: 138.43; 138.27; 138.00; 137.60

eurjpy


GBPJPY

The pair remains in unobstructed rally off 169.32, where near-term bottom was left, with four-day rally recovering the most of 175.33/169.32 descend. Probe above 174 barrier, took out 174.17, lower top of 30 July, aiming towards interim barrier at 174.52, 15 July high, on the way to key peaks and barrier at 175.33, 03/04 July highs. Bulls dominate on lower timeframes and gaining traction on daily studies, which supports the price for final push higher and attack at 175.33 hurdle. Psychological 174 level offers initial support for corrective pullbacks, with ideal reversal point for extended dips, seen at 174.40, Fibonacci 38.2% of 169.32/174.33 ascend, reinforced by daily 100SMA.

Res: 174.52; 174.82; 175.00; 175.33
Sup: 174.00; 173.65; 173.25; 173.00

gbpjpy


EURGBP

The pair came under strong pressure after recovery rally 0.7901 higher low, stalled at 0.8064, 05 June low and short of 0.8072, Fibonacci 38.2% of larger 0.8398/0.7871 descend. Subsequent sharp acceleration lower, retraced 76.4% of entire 0.7901/0.8064 upleg and also filled Monday’s gap, when weekly trading started about 80 pips higher. Reversal found temporary support at 0.7938, daily Ichimoku cloud base, with further weakness seen in the near-term, as lower timeframes studies are negative. On the other side, neutral daily studies suggest prolonged consolidative phase, with more upside focus expected on a weekly close above Thursday’ high at 0.7976, which will confirm formation of Outside day pattern and sideline immediate downside risk.

Res: 0.7986; 0.8016; 0.8035; 0.8064
Sup: 0.7939; 0.7920; 0.7901; 0.7890

eurgbp

Recommended Content


Recommended Content

Editors’ Picks

GBP/USD resumes upside toward 1.3300 ahead of BoE rate call

GBP/USD resumes upside toward 1.3300 ahead of BoE rate call

The GBP/USD gains traction and approaches 1.3300 in European trading on Thursday, having found buyers near 1.3150. A broad US Dollar pullback and a rebound in risk sentiment offer support to the pair ahead of the BoE policy announcements. 

GBP/USD News
EUR/USD rises further toward 1.1200, focus shifts to ECB-speak

EUR/USD rises further toward 1.1200, focus shifts to ECB-speak

EUR/USD stays strongly bid toward 1.1200 in the European session on Thursday. The pair capitalizes on a renewed US Dollar retreat and an upbeat mood. Traders digest the Fed's dovish outlook, bracing for ECB-speak for fresh trading incentives. US data are also eyed. 

EUR/USD News
Gold hovers close to new high of $2,600 after Fed meeting

Gold hovers close to new high of $2,600 after Fed meeting

Gold (XAU/USD) edges higher and trades back in the $2,580s on Thursday after falling to the $2,540s following the US Federal Reserve (Fed) decision on interest rates the prior day.

Gold News
BoE expected to keep interest rate unchanged at 5% as price pressures persist

BoE expected to keep interest rate unchanged at 5% as price pressures persist

After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.

Read more
Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin and Ripple eye for a rally as they break and find support around their resistance barrier. Meanwhile, Ethereum demonstrates signs of recovery as it approaches a critical resistance level, indicating that an upward rally could be on the horizon if it successfully breaks through.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Majors

Cryptocurrencies

Signatures