EUR/USD with bearish momentum
Further declines for EUR/USD will see the $1.17 and $1.1754 areas tested.
The loss of the 200-day simple moving average (SMA) of $1.2020 signals a further bearish shift, and any rebound that fails to move back above $1.2165 would likely represent a selling opportunity.
EUR/USD price chart
GBP/USD price continuing to drop
Looking at GBP/USD, there seems little to hold up sterling this week ahead of the Bank of England (BoE) meeting.
The price continues on its downward trajectory, and the loss of the 200-day SMA at $1.3544 would see the $1.3321 level come into play. A move back above $1.37 is needed to put a more bullish view on the pair.
GBP/USD price chart
USD/JPY could see a bounce to ¥110.00
The price for USD/JPY has fallen back to the rising trendline from the March lows.
If this holds then a bounce to ¥110.00 cannot be ruled out. A close below the trendline would target ¥108.13 and then ¥107.50.
USD/JPY price chart