EUR/USD powers higher
So far this morning EUR/USD has managed to hold above the descending trendline from the February highs, having broken back above it last week.
Some selling pressure around $1.2388 is holding back further progress, but from here $1.2411 and then $1.2445 come into view. A drop below $1.2350 would suggest that the sellers are back in control.
EUR/USD price chart
GBP/USD looks for more gains
There was little stopping GBP/USD last week, and the price looks set to continue its ascent.
Thursday’s high at $1.4220 is the next target before the January peak at $1.4345. Dips towards $1.40 should continue to find buyers.
GBP/USD price chart
USD/JPY aims for a rebound
The downtrend reasserted itself last week, as USD/JPY turned lower from ¥106.50.
Any rebound that fails to move back above this level will likely be another selling opportunity. Previous support from ¥105.24–¥105.60 will now be resistance.
USD/JPY price chart