Forex crosses technical analysis 4/12/2017

Forex crosses technical analysis EURJPY, NZDJPY, AUDJPY, USDSEK, USDNOK, GBPAUD, GBPNZD

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EURJPY

EURJPY has broken below the 200 SMA 117.813 level and is on the way to test significant long-term trend line 116-116.500 zone. The downside support is 117-117.500. Look only for short trade entries.

 

 

NZDJPY

The pair is breaking below the 200 SMA 77.484 level and this break is confirmed. Downside continuation into 74-74.500 zone. SL on short trade entries should be above 77.570. 

 

AUDJPY

The pair has broken below 100 SMA 85.360 level, leaving it vulnerable to more downside. We have a downside continuation now and the retest of 200 SMA 82.120 level. The daily close below this level would lead to a retest of 78-79 support zone. Staying aside for now.

 

 

 

USDSEK

The pair has broken above the long-term falling trend line 8.9600 level and has broken above the 100 SMA 9.0171 level for the uptrend continuation. The support zone is 8.9800-9.000. The daily close above 9.0162 is now required for the medium-term downtrend complete reversal.

 

 

USDNOK

The pair is testing the strong support 8.5500-8.5800 zone. The hold of this support zone is required for the upside continuation and the retest of 8.7000 the strong upside resistance.

 

 

GBPAUD

The pair is trying to break above the 200 SMA for the complete long-term downtrend reversal. Rejection from here could lead to another consolidation leg lower. Staying aside for now.

 

GBPNZD

The pair is has broken above the 200 SMA 1.7670 level and has confirmed the break. The support zone is 1.7800-1.7900 zone. Look only for long entries with SL below 1.7800 level because the pair has made a complete long-term downtrend reversal.

 

 

Crosses are simply a measure of the relative strength of an individual currency against the dollar. Crosses are distinguished by the fact that they do not include the dollar as either the numerator or the denominator of the pair. As such, they offer traders a tremendous opportunity to make far more nuanced bets in the currency market than the simple pro- or anti-dollar trade.

What makes crosses especially interesting to currency traders is the fact that they can provide much cleaner trend or range signals which will be unaffected by the day-to-day oscillations of the greenback.

Technical analysis is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.