Forex

USD/JPY Current level – 104.63

The currency pair breached the support level of 104.90 on Friday and, at the start of the new week, the expectations are for the Greenback to depreciate against the yen, pushing the pair towards a test of the important support at 104.10. In the positive direction, the first resistance lies at 105.33.

GBP/USD Current level – 1.3268

The Cable recorded decent gains yesterday as the session ended close to the daily highs. In the early hours of today, the pair is holding steady – just below the resistance at 1.3272. Here, too, the trend is positive, as a breach of 1.3272 would allow the bulls to test the September high of 1.3481. Buyers can expect to find their first support at 1.3160 ​​and a more substantial one at 1.3062.

EUR/USD Current level – 1.1819

The common European currency’s appreciation against the Greenback, which we observed in the past couple of days, was halted yesterday by the resistance at 1.1920. At the time of writing, the currency pair is looking to reach the support around the 1.1800 zone. If the support at 1.1800 holds, then the bullish sentiment would be retained and the EUR/USD should attempt another test of 1.1920, possibly followed by a test of the local high at 1.2010. Volatility could pick up after the announcement of the German ZEW economic sentiment at 10:00 GMT.