A brand new week means a new edition of the Weekly Watch! Get the hottest charts on EUR/JPY, GBP/JPY, and EUR/GBP right here, mate!
EUR/JPY
Yen sellers have been at it again! They’ve taken EUR/JPY higher and higher over the past couple of weeks, but right now, they seem to be stalling just above the 132.00 confluence zone, near the week open (WO). I wouldn’t be surprised to see this area hold as resistance for a while.
After all, it took a few days for last week’s WO and previous week high (PWH) to break down. As for support, I’d look for interest around the bottom WATR.
- WO: 132.07
- Top WATR: 133.93
- Bottom WATR: 130.22
- PWH: 132.26
- PWL: 129.00
GBP/JPY
The PWH seems to be doing a pretty good job of keeping the bulls at bay at the moment, so I may just look for opportunities to short around that area. However, given the yen’s current strength, I think favoring a long position is the safer bet. I’ll be waiting patiently for a pullback, perhaps around 155.00 or the bottom WATR before I decide to jump in.
- WO: 156.39
- Top WATR: 158.36
- Bottom WATR: 154.43
- PWH: 156.70
- PWL: 152.76
EUR/GBP
This baby is still stuck in a range with clear support at .8400 and solid resistance at around .8500. No doubt, I’ll be watching these levels closely for trading opportunities!
- WO: .8446
- Top WATR: .8511
- Bottom WATR: .8381
- PWH: .8490
- PWL: .8400
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