EUR/USD was traded down this week closing at $1.2709 (0.34%) loss. Despite opening on a rise, the pair resumed the negative trade until the closing on Friday. Technically, EUR/USD is still traded above the $1.2720 horizontal support, and the direction for this pair is most likely to be determined before the week ends on Friday. Downward movement and failure to break would trigger the rest of the realization with the first objective at $1.2520 and the last stop at 1.2370. On the other hand, an upward break of 1.2930 would trigger the upward correction towards 1.3.

GBP/USD
 

GBP/USD is traded down this week closing at $1.5520 (0.42% loss). In the course of this week the pair has been moving sideways around the horizontal support at 1.5520. Despite the downward break on Friday of the support around the 1.5520 area, the pair failed to make a significant move, thus the definite direction for GBP/USD isn't set yet. A failure to break back the 1.5520 support will trigger deeper correction towards 1.5160. (From above, $1.5710 is used as nearest resistance).


 

USD/JPY
 

This pair has been experiencing a mixed trend closing at 85.57. The mixed trades follow the recent trend of this pair defined as stumping/sideways movement. The pair is quoted in the parameters of a horizontal range of 86.26 to 84.93. Technically speaking, as long as the pair is traded within this range, the rest of its move can't be predicted, despite the fact that the current movement comes after a long downtrend. Breaking the upper limit of the range would trigger the start of the upward correction towards 87.60. On the other hand, breaking the lower limit of the range would bring about the downtrend with the first objective at 81.70 (a historical support from 1995).