I'm sure that after seeing last Friday's crazy moves that you're all pumped and excited to dive right into trading, so I ain't gonna waste any more time. Here are this week's charts on EUR/JPY, GBP/JPY, and EUR/GBP!
EUR/JPY
Now that EUR/JPY has broken out of consolidation, I think the way to approach this pair is to catch a retracement. Though it's still a distance away, 99.00 will probably draw interest if price finds itself near this level again. Up north, I'll also be watching for a clean break (or bounce off) of 100.50.
- WO: 100.22
- Top WATR: 101.34
- Bottom WATR: 99.10
- PWH: 100.43
- PWL: 97.99
GBP/JPY
The 125.00 major psychological level was an area of interest in the past, so I think it would be wise to watch out for a bounce or break in this zone. If sellers can push below this level, their next stop could be the 124.00 handle, where the previous week's low is set.
- WO: 125.34
- Top WATR: 126.44
- Bottom WATR: 124.24
- PWH: 126.21
- PWL: 123.90
EUR/GBP
The must-watch horizontal levels on EUR/GBP are crystal clear - .8000 and .7950! A break above the .8000 confluence zone will probably see this pair rise to new heights, while .7950 presents a potential retracement zone for those of you who feel bullish for the euro.
- WO: .7998
- Top WATR: .8048
- Bottom WATR: .7948
- PWH: .8003
- PWL: .7887
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