Partner Center Find a Broker

The question on everyone’s mind is whether the Miami Heat have what it takes to go back to back and start a streak of championships. Personally, I’m looking to extend my winning streak of my own. Hopefully, I can rack up a third week of wins with help from my Weekly Watch.

Without further ado, here are this week’s charts on EUR/JPY, GBP/JPY, and EUR/GBP.


EUR/JPY Hourly Chart

For a while, it looked as though sellers were starting to take control of EUR/JPY, but late last week, buyers made their comeback and pushed price back above 130.00. Personally, I think the BOJ’s monetary policy will keep the yen under selling pressure, so I’ll be looking for retracements possibly around the bottom WATR. But I’m not ruling out a possible reversal around the 131.00 handle.

  • WO: 130.59
  • Top WATR: 132.57
  • Bottom WATR: 128.61
  • PWH: 130.26
  • PWL: 124.99


GBP/JPY Hourly Chart

I’m basically looking at the same thing on GBP/JPY, except the area of 152.50 will serve as my potential turning point. For retracements, the 151.00 major psychological handle looks like a probable sweet spot, since it held as both resistance and support last week.

  • WO: 152.05
  • Top WATR: 154.07
  • Bottom WATR: 150.03
  • PWH: 152.54
  • PWL: 146.50


EUR/GBP Hourly Chart

EUR/GBP has been limited to sideways action, so I’ll still be looking to play resistance around .8600 (old school resistance, baby!) or at the previous week high. Down south, I’ll look for buyers to step in at around .8500, just as they did last week.

  • WO: .8589
  • Top WATR: .8657
  • Bottom WATR: .8521
  • PWH: .8638
  • PWL: .8503

Risk Disclosure
Q1 2013 Trading Performance Review
Read about my trading framework
Follow me on
Follow me on Twitter
Like my Facebook page
Join my circle on Google+

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.