Weekly Watch: August 19 to 24, 2013

After that sickly weekend, I’m feeling much better now. My fever was all over the place but thankfully, it died down yesterday. Now that I’m rested and raring to go, it’s time to hop back on that high horse and get back to pippin’!

EUR/JPY

EUR/JPY Hourly Chart

Talk about choppy! The pair is currently bouncing within a 100-pip range, finding tough resistance just below the 130.50 MiPs. For this week, I’d keep eye on 130.50 level, as a close above that mark could signal that the bulls are in control. On the flip side, a candle close below 129.50 may mean that sellers could bring price back down to the previous week low.

  • WO: 130.22
  • Top WATR: 131.77
  • Bottom WATR: 128.68
  • PWH: 130.72
  • PWL: 127.97

GBP/JPY

EUR/JPY Hourly Chart

Can Guppy continue its steady climb up the charts? After finding resistance at 150.50, GBP/JPY finally broke higher and is now consolidating around 152.50. For this week, I’d keep an eye on that PWH and 153.00 handle. A break above that level could mean a stronger move up to the top WATR!

  • WO: 152.43
  • Top WATR: 154.23
  • Bottom WATR: 150.64
  • PWH: 153.25
  • PWL: 148.81

EUR/GBP

EUR/JPY Hourly Chart

If you wanted proof that the pound is out-performing the euro right now, look no further than EUR/GBP! The pair went on a steady decline last week. The question is, will it continue? Keep an eye out on that .8500 handle, as we could see solid support at that level. Up north, the top WATR may turn out to be a support-turned-resistance point, so watch out!

  • WO: .8527
  • Top WATR: .8583
  • Bottom WATR: .8460
  • PWH: .8610
  • PWL: .8503

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