Technical Cross Report

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Friday December 9 , 2011 12:00 GMT

Technical Cross Report

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

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Midday Report

The pair setlled above the pivotal 121.00 support to rebound and visit the resistance level we mentioned this morning at 122.25, while stochastic is providing positive signs supporting the upside move. In general, our morning scenario remains valid , please check our morning report for more details.

The trading range for the day may be among the 119.30 support and 123.35 resistance. 

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

Morning Report

Weekly report

Support	121.50	121.00	120.70	120.00	119.30
Resistance	122.25	122.60	123.15	123.80	124.30
Recommendation	Based on the charts and explanations above we recommend buying the pair with a breach above 122.25 targeting 124.00 and stop loss below 121.00 OR selling the pair with a breach below 121.00 targeting 119.30 and stop loss above 122.25 may be appropriate

Euro vs. Japanese Yen (EUR / JPY)

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Midday Report

The pair rallied to surpass the retest level at 103.75 supported by a minor bullish technical pattern; the pair acquired the first target for the pattern at 104.40, h owever, ntil now our morning expectations remain valid and unchanged so long as 104.75 remains intact.

The trading range for the day may be among the 101.00 support and 104.75 resistance.

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

Morning Report

Weekly report

Support	103.75	103.00	102.45	102.10	101.70
Resistance	104.25	104.75	105.15	106.10	106.70
Recommendation	Our morning expectations remain valid

Euro vs. Great British Pound (EUR / GBP)

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Midday Report

The pair is fluctuating around the support of the range bound at 0.8525, as a result; our morning scenario is activated and remains valid so long as 0.8525 remains intact.

The trading range for the day may be among the 0.8460  support and 0.8680 resistance.

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

Morning Report

Weekly report

Support	0.8525	0.8460	0.8415	0.8385	0.8300
Resistance	0.8600	0.8635	0.8680	0.8720	0.8765
Recommendation	Our morning expectations remain valid

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