Another classic Knicks-Celtics battle, World Peace comes back to life, and a ridiculous 57 points by my man Deron Williams! What a crazy NBA Sunday! Now that the weekend’s done, it’s time to get back to work!
It’s starting to look like the pound is regaining its status as a “safe haven” among the European currencies, as it remained pretty resilient last week. Will we see more of the same this week?
EUR/JPY
After sinking at the start of last week, EUR/JPY spent the rest of the time stuck in consolidation, finding major interest at the 108.00 handle. I suspect that this level could serve as a major inflection point for this week as well. I’d also keep an eye out for other psychological handles (such as 107.00 and 109.00) as potential support and resistance levels.
- WO: 107.92
- Top WATR: 109.30
- Bottom WATR: 106.54
- PWH: 109.94
- PWL: 107.18
GBP/JPY
What’d I say about that 127.00 area? As I had predicted in my last Weekly Watch, the 127.00 handle acted as an area of interest and served as last week’s bottom. I’m considering putting buy orders at that 127.00-127.50 zone if the price starts to consolidate there.
Another level worth watching is the 130.00 MaPs. Price failed to pierce through it last week but if we see a solid candle close above that level, that could be a solid opportunity to get in on the next wave up.
- WO: 129.54
- Top WATR: 130.84
- Bottom WATR: 128.24
- PWH: 130.11
- PWL: 126.74
EUR/GBP
By now, y’all know should know what I’m looking at! I’m talking about the .8400 level of course! I didn’t get triggered last week, but if we see a retracement, you can bet your stash of bunny ears that I’ll be putting in some orders. It even lines up with the top WATR! On the flip side, I’m also paying close attention to how price reacts to previous lows around .8280.
- WO: .8321
- Top WATR: .8400
- Bottom WATR: .8264
- PWH: .8491
- PWL: .8315
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