New week, new levels - Forex News by FX Leaders

Today is Monday the 11th of July as we approach the middle of the month, so it´s a new week and new levels. Or are they the same old ones? Well, EUR/USD pair is little changed from last Friday so the support and resistance levels remain the same at 1.10, 1.0950, 1.09 and 1.08 on the downside and 1.1050 as first line of resistance where we opened a sell forex signal last night which hit take profit this morning and 1.1120.

USJ/JPY is another story. It has surged nearly 200 pips from the lows last Friday and is now sitting near the 102 level. The first batch of sell orders which form the first line of resistance are ar 102.00-10, then 102.80 and 103. Buy orders and support levels come at 101.70 where we can find the 100 moving average and then 101 and 100.50.

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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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