This week’s technical outlook focuses on three major currency pairs: USDJPY, EURUSD, and GBPUSD.
USDJPY: The USDJPY pair continues to trade within a narrow range, with key support at 109.50 and resistance at 110.50. Traders are advised to monitor any breakouts from this range for potential trading opportunities.
EURUSD: The EURUSD pair remains in a downtrend, with key support at 1.1800 and resistance at 1.1900. Traders should watch for any decisive moves below the support level, which could signal further downside momentum.
GBPUSD: The GBPUSD pair is currently consolidating around the 1.3900 level, with key support at 1.3800 and resistance at 1.4000. Traders should pay attention to any breakouts from this range for potential trading setups.
Overall, traders should closely monitor these key levels and be prepared for potential breakouts in the coming week.