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CURRENCIES TECHNICAL ANALYSIS March.22

Euro

The pair remained under buying pressure on Tuesday. The spot extended its vertical rise yesterday. Buyers broke 1.0750 in the Asian session and 1.0800 later the day. The resistance is seen at 1.0800, the support stands at 1.0750.

As the most probable scenario, we consider further moving upwards towards the level at 1.0850.



Pound

The British pound strengthened further on Tuesday, sending GBP/USD to fresh monthly highs. After a night flat buyers pushed the major upwards, broke 1.2400 and advanced up to 1.2500. The current resistance is seen at 1.2500, the support lies at 1.2400.

We believe bulls will stay in a driver’s seat. They may break the 1.2500 hurdle in the upcoming sessions. Their second target lies at 1.2565.



Yen

The USD/JPY pair maintained its ask tone on Tuesday. The major was neutral in the night. Sellers began pushing the price downwards in the morning. The pair accelerated its losses during the European session and dropped below 112.00 in the North American one. The resistance is at 112.00, the support comes in at 111.00.

A move below 112.00 will confirm sellers' strength. In this scenario sellers may drive prices towards 111.50.

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