Which levels must we watch this morning? - Forex News by FX Leaders

Which levels must we watch this morning?

Posted Tuesday, June 21, 2016 by
Skerdian Meta • 1 min read

Today is Tuesday and you know what they say, new day new levels, or is it new beginnings? Anyhow, which are the levels to keep an eye on today? EUR/USD is sitting around 1.1340s right now so the first resistance is obviously yesterday´s high at 1.1380. Above that is 1.14000-20 which has placed a lid after the US employment miss last month, then 1.1450 and ultimately 1.15. The support levels stand at 1.1220, 1.12 and 1.1120 which was the low last Thursday.

With the Brexit referendum coming up we´ve decided not to trade the GBP pairs, so we´re leaving the GBP out and we´re moving to USD/JPY. After falling to 103.50s overnight this pair is about 100 pips higher this morning. The immediate support levels that come to mind are 104 and 103.50s. Below there, there´s no real significant level to watch until 100 which is the line in the sand. The first resistance is the high from Friday and yesterday at 104.80, then 105 and 105.50 which is the ultimate level. So, watch these levels guys and define your risk against them.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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