The Japanese currency pairs are clam as the trading volume from China and USA remained thin. As we know, the Chinese investors are enjoying the Spring festival and will not be back until Feb 21, that’s why the Asian session is a bit quiet. However, the market can remain volatile during the US session as the investors are back after enjoying the President Day’s holiday.  

Most of the investors may wait for the minutes of the latest Federal Reserve meeting which is due tomorrow. In the meantime, you can take positions in the crosses and in order to gain more grip on the market you can draw these levels on your chart. Newbies, do check FX Leaders update on Trading Levels.

EUR/JPY – Major Trading Levels

Support     Resistance

131.04      133.28

130.19      134.67

128.8        135.52

Key Trading Level:    132.43

GBP/JPY – Major Trading Levels

Support     Resistance

147.88       150.78

146.46       152.26

144.98        153.68

Key Trading Level:    149.36