Overview
Duncan Cooper summarises the key trading levels of AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, and GBPUSD for the week ahead.
Last week AUDJPY, EURJPY, and GBPJPY held gains for the week. AUDUSD, EURUSD and GBPUSD finished down for the week. After positive US CPI data on Friday USD strength prevailed at the close of the week. Will further USD strength and JPY weakness continue in the coming week?
AUD/JPY daily chart
Monthly support at 90.72 and 90.29, resistance at 97.29.
Weekly support at 94.31 and 87.28, resistance at 95.73.
Daily support at 94.02 and 91.16, resistance at 96.87.
Price false broke the 95.73 weekly resistance level last week. Will price find support at the 94.31 weekly support level for a further advance this week?
AUD/USD daily chart
Monthly support at 0.6991, 0.6967, and 0.6826, resistance at 0.7555.
Weekly support at 0.6993, resistance at 0.7314.
Daily support at 0.7035 and 0.7030, resistance at 0.7127, 0.7141, and 0.7165.
Price declined and tested the 0.7030 daily support level last week. Will price continue to decline and move below the 0.7000 level to retest the monthly support levels this week?
EUR/JPY daily chart
Monthly support at 141.04 and 134.12, resistance at 145.68.
Weekly support at 139.99 and 137.52, resistance at 145.68.
Daily support at 138.31 and 136.79, resistance at 144.24.
Price broke above the 141.04 monthly resistance level last week. Will the broken 141.04 monthly resistance level now become support for a further advance this week?
EUR/USD daily chart
Monthly support at 1.0522, 1.0462, and 1.0340, resistance at 1.0635.
Weekly support at 1.0349, resistance at 1.0727 and 1.0806.
Daily support at 1.0482, resistance at 1.0627 and 1.0642.
Price strongly declined below the 1.0635 monthly support level last week. Will price continue to decline and retest the 1.0340 monthly support level this week?
GBP/JPY daily chart
Monthly support at 158.21, resistance at 168.01.
Weekly support at 158.06, resistance at 168.42.
Daily support at 164.64, resistance at 168.42.
Price false broke the 168.42 weekly resistance level last week. Will price find support at the 164.64 daily support level for a further advance this week?
GBP/USD daily chart
Weekly support at 1.2251, 1.2195, and 1.2155, resistance at 1.2667 and 1.2813.
Daily support at 1.2155, resistance at 1.2411 and 1.2430.
Price strongly declined below the 1.2411 daily support level last week. Will price continue to decline and test the 1.2155 weekly support level this week?
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