Weekly Watch: March 11 to 15, 2013

The weekend’s over, folks – it’s time to get back to business! Here are this week’s charts on EUR/JPY, GBP/JPY, and EUR/GBP!


EUR/JPY Hourly Chart

One level I’ll be watching closely on EUR/JPY is 124.00, since it could either act as support or as the neckline of a double top formation. Up north, I’ll be looking for potential setups near the confluence zone around the previous week high (PWH) and 126.00 handle.

  • WO: 124.57
  • Top WATR: 126.42
  • Bottom WATR: 122.72
  • PWH: 125.97
  • PWL: 121.13


GBP/JPY Hourly Chart

A break of the week open (WO) or 143.00 could lead to further losses for GBP/JPY, so you can bet your bottom dollar that I’ll be keeping tabs on that area. I’ve also got my eye on the bottom WATR for a potential retracement play. As you can see, price found strong resistance around that level last week, so there’s a chance it could show interest again this week.

  • WO: 143.09
  • Top WATR: 144.86
  • Bottom WATR: 141.32
  • PWH: 144.74
  • PWL: 140.21


EUR/GBP Hourly Chart

Lastly, we have EUR/GBP, which presents a potential resistance zone around the PWH. Down south, the only clear major area of interest that I see lies around the previous week low (PWL) and the .8600 handle, which has served as support for the past four weeks or so.

  • WO: .8707
  • Top WATR: .8778
  • Bottom WATR:.8636
  • PWH: .8743
  • PWL: .8588

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