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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

EUR/JPY Hourly Chart

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

GBP/JPY Hourly Chart

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

EUR/GBP Hourly Chart

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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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.