Weekly Watch: June 24 to 28, 2013

Pippin’ ain’t easy, but it’s a lot easier when you’re prepared for what the market throws at you. That’s why I conduct my pre-market routine on the regular! Check out the levels that I’ll be watching on EUR/JPY, GBP/JPY, and EUR/GBP!

EUR/JPY

EUR/JPY Hourly Chart

EUR/JPY staged a nice little rally early last week, but now it seems content with trading sideways. With that said, I think we could see interest in the 130.00 confluence zone. As for support, I would look for buyers to jump in near the week open (WO) or 128.00 handle.

  • WO: 128.23
  • Top WATR: 130.11
  • Bottom WATR: 126.35
  • PWH: 129.91
  • PWL: 125.58

GBP/JPY

GBP/JPY Hourly Chart

On this pair, I’ll be keeping a close eye on the 152.00 area, since it was such a strong resistance level last week. Down south, GBP/JPY could be a good buy around the 150.00 major psychological handle.

  • WO: 150.58
  • Top WATR: 152.61
  • Bottom WATR: 148.56
  • PWH: 151.95
  • PWL: 147.78

EUR/GBP

EUR/GBP Hourly Chart

I’m still holding my EUR/GBP short open, so y’all know I’ve got a bearish bias on this pair! However, I do think we could see buying interest around the .8480 level. It held as support for three weeks, homies! I also plan to keep tabs on the .8550 MiPs for opportunities to add to my position.

  • WO: .8513
  • Top WATR: .8569
  • Bottom WATR: .8457
  • PWH: .8591
  • PWL: .8475

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