Crosses Weekly Forecast Oct 23 2017

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EURJPY: Bullish Eyes Further Upside!

As long as 131.65 support holds on a weekly closing basis, the EURJPY remains on the upside to the 134.58 levels, a halt is likely but a break will aim the 136.92 levels, further upside resistance stands at the 140.87 levels.

On the downside, below 131.65 sees a pullback threats to the 129.95 levels where another rise is likely, below that level sees another fall to the 127.82 levels…

Conclusion: The EURJPY continues to face upside threats above the 131.65 levels.

GBPJPY: Consolidates With Upside Bias!

As long as 147.00 support holds on a weekly closing basis, the GBPJPY remains neutral with risk to the upside, resistance comes at the 151.54 levels, a weekly closing above that level is needed to resume the upside trend If seen it will aim the 154.85 levels, a halt is likely and turn lower from, however; above that level will extend gains to the 159.00 levels ahead of the 163.88 levels.

On the downside, below 147.00 levels sees more decline to the 142.52 levels before another rising, further down, support stands at the 139.20 levels…

Conclusion: The The GBPJPY is likely to consolidate above the 147.00 levels…

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