Technical Summary for Crosses

EURJPY

The pair trades in near-term consolidative phase off fresh low at 136.85, posted on 02 Oct, on unsuccessful probe below 137 support. Corrective bounce was so far capped , under psychological 138 barrier, at levels near 50% of 138.78/136.85 downleg. Subsequent easing from last Friday’s recovery peak at 137.86 holds near 137 support zone and keeps downside under pressure. Last Friday’s Doji candle long upper wick, suggests bears remain in play, as daily indicators are establishing in the negative territory. Sustained break below 137 handle to confirm bearish resumption towards key short-term base at 135.80/71, for full retracement of the upleg to 141.20. Break lower to open 135.30, weekly Ichimoku cloud base and 135.00, round-figure support. Weekly 20SMA and 28 Aug low at 136.40, offer the next support below 137 level, with corrective rallies to face daily 55SMA at 137.62, ahead of psychological 138 barrier, reinforced by descending daily 100SMA, where stronger rallies should be capped.

Res: 137.43; 137.86; 138.00; 138.53
Sup: 137.03; 136.85; 136.40; 136.00





GBPJPY

Near-term price action trades around psychological 175 level, also 50% retracement of 169.32/180.67 upleg and sideways-moving daily Kijun-sen line, after pullback from 180.67 peak found temporary footstep at 174.28. Prolonged consolidation is likely going to precede fresh attempt lower, as near-term studies are negative and so far showed no signal of an end of corrective pullback from 180.67, 19 Sep peak. Moving Averages of near-term studies are negatively aligned and keep the upside capped for now. Further easing should be ideally contained at 173.60 zone, Fibonacci 61.8%, reinforced by ascending daily 55 SMA, as daily studies are still positive and require reversal above the latter support, to keep bulls in play. However, negative weekly close, after previous week’s Doji candle and loss of momentum on weekly studies, require caution. Loss of 173.60 handles, to confirm bearish resumption and open dynamic supports at 173.21, 100SMA and 172.00, 200SMA.

Res: 175.87; 176.64; 177.10; 178.09
Sup: 174.54; 174.36; 174.00; 173.60





EURGBP

The pair holds positive near-term tone, after hourly double-bottom was confirmed on acceleration to 0.7859, Fibonacci 76.4% retracement of 0.7887/0.7765 descend and Fibonacci 38.2% retracement of 0.8007/0.7765 downleg. Rally was so far limited, with near-term congestion seen under 0.7859 highs, as the price is looking for completion of Spinning Top formation, which signals indecision. The price rides on the fourth, corrective wave, which commenced from 0.7765 low and should be ideally completed at current highs, with overall negative picture, supporting final push lower to complete 0.7755/0.8813 ascend. Negative scenario needs break below near-term consolidation base at 0.7820 zone, to confirm hourly triple-top formation and fresh weakness. Alternatively, extended corrective action off 0.7765 low, would look for 0.7886, lower top / 50% retracement of 0.8007/0.7765, with Fibonacci 61.8% at 0.7915, expected to come in focus on a break higher.

Res: 0.7887; 0.7915; 0.7950; 0.8007
Sup: 0.7820; 0.7800; 0.7765; 0.7755