Crosses Daily Forecast Oct 20 2017

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EURJPY: Bullish Eyes The 134.25 Levels!

As long as 132.25 support holds on a daily closing basis, the EURJPY remains on the upside to the 134.25/134.50 levels, a halt is very likely and it may turn lower from here but a break will aim the 136.00 levels, further upside resistance stands at the 137.58 levels.

On the downside, below 132.25 sees a fall risk to the 131.35/130.66 levels…

Conclusion: The EURJPY sees upside threats above the 132.25 levels.

GBPJPY: Consolidates Below Resistance 149.27…

As long as 149.27 resistance holds on a daily closing basis, the GBPJPY remains neutral with risk to the downside to the 147.00 levels, below that level will restore the downside momentum and pave the way to 145.65 levels ahead of 144.17 levels, above 149.27 sees a recovery risk to the 150.96 levels ahead of the 152.85 levels.

Note: the pair printed a new support at the 147.89 levels 2 days ago.This development should push the pair to the upside, but since the pair still trading below static resistance 149.27, it may fail to move higher, anyway, a daily closing above 149.27 is needed to push the pair for further upside gains, alternatively; a failure to hold above the 149.27 levels on a daily closing basis could mean a return to the 149.89 levels where a strong rebound is likely, below that level will aim the 144.00 levels.

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