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EUR/JPY

EUR/JPY 1 Hour Forex Chart
EUR/JPY 1 Hour Forex Chart

Last week, EUR/JPY stabilized into a tight trading range as shown in the chart above: the high and low of the week are much closer together than the WATR lines. This could mean we could see a break out if we get the right catalyst from the forex calendar, and an opportunity for a momentum trade in either direction if the conditions are just right.

  • WO: 139.41
  • Top WATR: 140.60
  • Bottom WATR: 138.23
  • PWH: 140.30
  • PWL: 138.67

GBP/JPY

GBP/JPY 1 Hour Forex Chart
GBP/JPY 1 Hour Forex Chart

It’s been a steady grind high for Guppy since finding a bottom around 164.00 two weeks ago.  I expect more of the same, but if there is a pullback to the 169.00 area (around the bottom WATR level), it’s a great place for the bulls to start paying attention for any buying support.

  • WO: 170.58
  • Top WATR: 172.21
  • Bottom WATR: 168.95
  • PWH: 170.61
  • PWL: 167.19

EUR/GBP

EUR/GBP 1 Hour Forex Chart
EUR/GBP 1 Hour Forex Chart

In my Weekly Watch from last week, I pointed out the strong resistance around .8325 as a good area to watch for EUR/GBP bears.  It looks like that was the level to sell, as the pair fell huge on comments from the Bank of England.  The pair is now testing a support area between .8170 – .8180 that looks to be breaking.  A solid break here may bring in more sellers, where the next support area to watch is between .8100 – .8120.

  • WO: .8173
  • Top WATR: .8227
  • Bottom WATR: .8120
  • PWH: .8337
  • PWL: .8180

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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.