EUR/USD could see small rebound
EUR/USD has finally managed to slow the decline, fighting to hold the $1.18 level.
We need to see a move back above $1.19 to further suggest that a small rebound is in play, bringing $1.1915, the 200-day simple moving average (SMA) at $1.2020 and then $1.2092 into view. Below $1.18, the $1.17 low comes into view.
EUR/USD price chart
GBP/USD on hold for now
Rallies towards $1.36 have brought out the sellers for GBP/USD, while dips below $1.35 have found buyers.
Unsurprisingly, with a Bank of England (BoE) decision looming, the pair has moved into consolidation. A break above one of the two aforementioned levels is needed to determine the next direction.
GBP/USD price chart
USD/JPY targeting move higher
The upward trend has resumed here, with USD/JPY bouncing off the rising trendline from the March lows.
Next in sight is ¥110.00, with a close above here targeting ¥110.48 and then ¥110.84. A break below ¥108.84 is needed to put a more bearish outlook on the pair.
USD/JPY price chart