Technical Cross Report

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Thursday October 20 , 2011 10:37 GMT

Technical Cross Report

Great British Pound vs. Japanese Yen (GBP / JPY)

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Midday Report

The pair couldn't acquire an hourly closing below 120.45, and rallied to the upside surpassing 121.00 again, Stochastic is supporting bullishness. In general, we still hold onto our morning expectations so long as 122.10 remain intact.

The trading range for the day may be among the 118.10 support and 122.10 resistance.

The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.

Morning Report

Weekly Report

Support	120.80	120.45	120.00	119.75	119.10
Resistance	121.30	121.80	122.10	122.60	123.35
Recommendation	Based on the charts and explanations above we recommend selling the pair with hourly closing below 120.45 targeting 119.10 and stop loss with hourly closing above 121.50 might be appropriate.

Euro vs. Japanese Yen (EUR / JPY)

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Midday Report

The pair rallied sharply to touch the resistance of the descending channel shown on the image. We anticipate that the resistance will continue to halt further bullishness and support the bearish scenario that will continue to be valid so long as 106.30 remains intact. Stochastic is positive and may lead to further incline within the coming period.

The trading range for the day may be among the 102.60 support and 106.30 resistance.

The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.

Morning Report

Weekly Report

Support	105.60	104.95	104.45	104.00	103.15
Resistance	106.30	107.00	107.60	107.90	108.85
Recommendation	Based on the charts and explanations above we recommend selling the pair with hourly closing below 104.95 targeting 103.15 and stop loss with hourly closing above 105.60 may be appropriate.

Euro vs. Great British Pound (EUR / GBP)

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Midday Report

The pair is trading positively since morning and Stochastic is about to crossover positively. Therefore, our morning expectations remain valid so long as 0.8720 remains intact.

 The trading range for the day may be among the 0.8625 support and 0.8910 resistance.

The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact.

Morning Report

Weekly Report

Support	0.8720	0.8685	0.8625	0.8590	0.8530
Resistance	0.8805	0.8845	0.8910	0.9000	0.9035
Recommendation	Our morning expectations remain valid.

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