Watch for EURUSD to run into trouble at 1.0695/1.0700

Technical Analysis

Author: Ryan Littlestone | eurusd

It's all jelly and ice cream until the party ends

The end of this particular party may not be far away. The 100 H4 ma at 1.0693 will help guard the recent strong S&R level at 1.0700/10.

EURUSD H4 chart

I suspect that topping might coincide with USDJPY finding any decent support at 113.00. It's all about the euro and yen right now as EURJPY is hitting its lows again, while EURGBP is up a good 60 pips from it's low in what's been one way traffic.

Given that scenario, it might be the euro holding 1.0700 that saves USDJPY at 113.00. Wouldn't that be something?

Immediate support is a bit sketchy. 1.0640/45 is looking the most likely level, though there's some at 1.0660.