Intraday forex analysis covering EURJPY analysis, GBPUSD, and USDCHF with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
GBPUSD moving higher
The pound jumped further against the greenback as sentiment shifted again. With the UK’s unemployment and inflation data this week, the cable pair could be a bit shaky. On the chart, prices have moved by more than 60 pips since bouncing off the 1.3490 support level.
- The bullish recovery is taking shape as prices test the 1.3550 level.
- An upwards continuation could persist in the medium term if 1.3600 is broken.
- A pullback past 1.3490 will see a second support at 1.3440 to prevent a collapse.
USDCHF remains subdued
The Swiss franc gained some momentum after the price collapse, with bears looking for another level. After hitting support at 0.7780, the US dollar has lost momentum, indicating sentiment remains to the downside.
- The multi-week low at 0.7780 is the next target to break.
- 0.7720 is a critical support if prices fall lower.
- 0.7845 is the first resistance zone to ease the selling pressure.
EURJPY fighting back
EURJPY analysis shows that the Japanese yen failed to maintain pressure on the euro. However, the bounce back halted prices at 187.00, which could suggest a rejection.
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- 186.40 is now a crucial support to keep the rebound intact.
- A lack of follow-up buying could threaten a move towards 185.50.
- Buyers could regain control of the direction if they manage to push back above the fresh resistance at 187.90.
