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CURRENCIES TECHNICAL ANALYSIS April.14

Euro

The pair remained negative on Thursday. The major pushed away from 1.0677 in the Asian session and continued losing its ground during the day. The price broke 1.0650 in the morning and approached 1.0600 later in the NY session. The resistance is seen at 1.0650, the support stands at 1.0600.

The euro may extend its losses if it breaks below 1.0600. Sellers may drive the price to 1.0570 in this scenario.



Pound

GBP/USD was in buy mode half of the Asian session on Thursday. The major extended its recovery up to 1.2570 when the market turned bearish. The pound was weakening the morning and the day and approached 1.2500 in the evening. The current resistance is seen at 1.2600, the support exists at 1.2500.

If sellers break below 1.2500 the GBP/USD pair may extend its losses towards 1.2450.



Yen

The USD/JPY pair was in a recovery mode yesterday. The pair bounced off 108.70 and reversed some losses breaking above 109.00. The resistance is at 110.00, the support comes in at 109.00.

The downward pressure is likely to be regained. Sellers may drive the major to 108.00 in the nearest future.

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