EUR/JPY ââ,¬â€œ EUR/JPY remains trapped in what is now a triangle.  The triangle begins on 8/31 at 150.71.  Given that the triangle is symmetrical, the formation could lead to a continuation of the uptrend or a reversal lower.  The upper end of the triangle is resistance near 150.30 and the lower end support near 148.60/80.  With the pair right in the middle of the triangle, the bias is neutral.

EUR/CHF ââ,¬â€œ EUR/CHF weakness stalled at the 50% of 1.5753-1.5961 at 1.5857 on 10/19 and has since worked higher to the 1.5900 figure.  The month supporting trendline is intact and keeps the picture bullish.  The trendline is at 1.5820 today and increases about 3 pips per day.  The next hurdle that bulls must climb is the double top at 1.5961/65.  The bullish target then becomes the138.2% fibo of 1.5853-1.5448 at 1.6007 and the 161.8% at 1.6104.  Price needs to remain above the trendline in order to keep prospects bullish.

EUR/GBP ââ,¬â€œ The EUR/GBP continues to test the low side of its recent .6682-.6790 range.  Fridayââ,¬â"¢s decline to .6687 was accompanied with RSI bullish divergence on the 240 minute chart.  The pair has stabilized since but the rally is anything but impulsive.  Still, long term triangle support is just below current price and momentum is divergent at each new low on the daily since early August.   A continued bounce from the lower Bollinger band (daily) probes the 10/20 high at .6733.  A break below the 9/26 low at .6682 may see offers towards the 6/23/2005 low at .6609.

Jamie Saettele is a Technical Currency Analyst for FXCM.