EUR/JPY ââ,¬â€œ The EURJPY has rallied to a resisting trendline drawn off of the 10/28 and 11/9 highs.  This level combined with 240 minute RSI above 70 favors a near term decline.  Initial support is at the confluence of the 11/20 high / 38.2% fibo of 150.32-152.47 at 151.65.  A push through todayââ,¬â"¢s high at 152.47 probes the monthly R3 pivot at 152.97.

EUR/CHF ââ,¬â€œ The EURCHF has plummeted from the 11/17 high at 1.6009.  The break of the 6 month supporting trendline bolsters the bearish view and shifts focus to the 9/25 low at 1.5753.  A continued rally off of Fridayââ,¬â"¢s low at 1.5808 targets the 38.2% fibo of 1.6009-1.5808 at 1.5885.  The decline from 1.6009 looks like the beginning of a larger correction of the 1.5448-1.6009 advance.  The 61.8% fibo of this advance is at 1.5663.

EUR/GBP ââ,¬â€œ The EURGBP continues higher from long term triangle support.  A clear 3 wave decline from .6794 to .6742 keeps short term wave structure bullish.  A rally through the 11/16 high at .6794 would suggest that the next leg up in the EURGBP was underway towards a potential resisting line drawn off of the 4/5 and 7/7 highs.  That line is at .6867 today and decreases about 1 pips per day.

Jamie Saettele is a Technical Currency Analyst for FXCM.