Friday was the day when we saw the world change and the major forex pair made some enormous moves. We witnessed them break some very long term levels which makes it difficult to locate the short term support and resistance levels. We´ll have a go at it anyway.
EUR/USD – 1.1080 as first resistance since it was last nights high, then 1.1180 as Friday´s high and 1.1220-30. The support comes at 1.1030s, then 1.990-1.10which was the low overnight and finally 1.10 which was the bottom of Friday´s decline.
USD/JPY – 102.30 was the high last night and a support level on Friday which has turned into resistance. Above that is the high at 103.30 after the steep decline on Friday. The first support level comes at 101.50-60 which is the low so far today. Below it the 100 round number always attracts attention nd then the low from Friday at 109. We´re staying clear from the GBP so let´s concentrate on these two pairs at the moment.
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