Rise and shine, forex fanatics! We’ve got the Weekly Watch ready to start another wacky week of cross-currency trading! Here are the levels that I’m looking at on EUR/JPY, GBP/JPY, and EUR/GBP:
EUR/JPY
The euro seems to have lost its magic, hasn’t it? From coming close to the 133.00 handle, EUR/JPY gave in to gravity and has made its way down to 130.00, where it’s currently trading.
Methinks if this level gives way, a test of 129.00 or the bottom WATR could be next. But if it holds, we might see a price return to 132.00
- WO: 130.29
- Top WATR: 131.92
- Bottom WATR: 128.66
- PWH: 132.75
- PWL: 130.08
GBP/JPY
The ball has been in the sellers’ court for some time now, but there’s a chance we’ll see buyers put up a fight around the 150.00 major handles. Up north, 152.00 could see some interest as well.
- WO: 150.85
- Top WATR: 152.66
- Bottom WATR: 149.04
- PWH: 154.07
- PWL: 150.72
EUR/GBP
Step by step, EUR/GBP has managed to climb higher. If it can break through .8650, the next step could be .8700. But if traders can’t lift it beyond the previous week’s high, I would expect a retreat to .8600.
- WO: .8636
- Top WATR: .8691
- Bottom WATR: .8581
- PWH: .8645
- PWL: .8581
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