EUR/JPY: Short-term bearish momentum increases

EUR/CHF

Direction-less.

• EUR/CHF is still moving sideways in a choppy trading pattern. Yet, the pair has picked up a slight bullish trend with higher lows. Hourly resistance is given at 1.0762 (27/12/2016 high) while hourly support can be found at 1.0678 (21/12/2016 low). The medium-term pattern suggests us to see continued bearish pressures towards key support that can be found at 1.0623 (24/06/2016 low).

• In the longer term, the technical structure remains positive. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EUR/JPY

Short-term bearish momentum increases.

• EUR/JPY is still trading sideways despite the pair has finally exited the range between 121.68 and 124.10. Weak demand indicates no near term challenge to range top. Expect to see increasing short-term bearish pressures.

• In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

EUR/GBP

Strengthening.

• EUR/GBP's demand is increasing. The pair has erased former resistance given at 0.8667 (20/12/2017 high). The technical structure suggests that bullish pressures should continue. Expected to show a continued bullish momentum towards 0.8800.

• In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading far above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.