EUR/JPY - EUR/JPY continues to move higher in a choppy fashion.  Bearish divergence with oscillators on the daily suggests that we are on the verge of a decline.  Price is nearing a short term supporting trendline (from 7/10 low at 145.01).  The trendline sits just above the 147.00 figure and a break below it could mark the beginning of a bigger turn.  Initial resistance is at the 7/20 and 7/21 highs at 147.85/86.

EUR/CHF - EUR/CHF has rallied past the last 3 day's highs and is nearing the 78.6% fibo of 1.5853-1.5447 at 1.5766.  Bearish divergence with oscillators on both the daily and hourly charts suggests at least a correction of recent strength.  Initial support comes in at the 7/20 high of 1.5722.  A break below there would target the 7/21 low at 1.5684.  Continued strength probes the mentioned fibo at 1.5766.

EUR/GBP - EUR/GBP is down for the 8th day in a row and is currently testing the 6/19 low at .6810.  Additional support is just below at the 78.6% fibo of .6752-.6958 at .6796.  Bullish divergence with oscillators on the hourly point to a potential turn higher at current support levels.  A symmetrical triangle has been forming since May 2003 and the supporting trendline from the triangle is at about .6765.  EUR/GBP is currently tracing out its 5th wave within the triangle, suggesting that the long term consolidation is nearing completion.  RSI on the daily is close to oversold.  Historically, the pair has turned right as RSI has hit 30 and 70.

Jamie Saettele is a Technical Currency Analyst for FXCM.