Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD

EUR/USD

Current level – 1.1193

The EUR/USD breached the resistance zone at 1.1171 and now is testing the next target at 1.1199. A successful upward move towards this level could pave the way for the bulls to the previously reached high around 1.1240 and would confirm the positive sentiments for the trend of the currency pair. In the downward direction, the first support lies at the level at 1.1171 , followed by the next one at 1.1130.

USD/JPY

Current level – 108.38

After the decline from the previous session, the currency pair hit a hurdle at 107.90. The bulls succeeded to take control and pushed the price up, targeting the resistance at 108.47. A breach up could help the positive move to test the next levels from last week at 108.83 and 109.20. If the power of the buyers is not enough, a downward move would show the continuing negative expectations of the market participants for additional depreciation of the US dollar against the yen and could pave the way to the support zones around 106.50 and 105.50.

GBP/USD

Current level – 1.3170

Тhe unsuccessful test of the support level at 1.3124 made the GBP/USD to hold above it and consolidate around the current price at 1.3170. The situation stays unchanged and the pair is forming a range. Breaching the upper border resistance zone at 1.3261 and pushing the price higher for a test of the levels at 1.3318 and 1.3492 would help the bulls to confirm a positive trend for the currency pair. An alternative scenario could be another push down from the bears that would lead to а test of the support zone at 1.3002 where a breach would pave the way to the lower target at 1.2915.