| What levels are in play for the EURUSD, USDJPY and GBPUSD and why? The new trading week is underway, with the EURUSD making a new cycle high and backing off. The USDJPY started below its 200 day MA after closing below that key level on Friday, but has moved back higher and looks toward the 38.2% of the range last week (and high from Friday). The GBPUSD has seen up and down action in that pair today. A new cycle high was made above an upside target at 1.2321, but the price backed off. A swing area at 1.2221 will be eyed as a close barometer on the downside today. The London dip did find support buyers near the level on the first look. Stay above keeps the buyers more in control. |
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