Daily Technical Analysis

EUR/USD

Current level – 1.1295

Yesterday’s trading session was marked by low volatility and, at the time of writing this analysis, the sentiment remains rather negative. Today, investors will focus on the data for the non-farm payrolls change (13:30 GMT), as well as on the unemployment rate data for the U.S. (13:30 GMT), both of which could lead to relatively large swings in either direction. A successful violation of the resistance level at 1.1372 would pave the way for the pair towards the next resistance at 1.1461. In the downward direction, a breach of the support at 1.1260 would head the pair towards the local low at 1.1185.

USD/JPY

Current level – 113.15

After a couple of unsuccessful attacks on the critical support at 112.75, the currency pair is starting to consolidate just above the level at 113.00. In the more likely scenario, in which the bulls take control over the market, the pair should head towards a test of the resistance level at 113.80. Despite this, if the bears manage to overcome the critical support at 112.75, this could lead to a wave of sell-offs and an impulsive downward movement towards the support at 110.80.

GBP/USD

Current level – 1.3286

At the time of writing, the pair is testing the support level at 1.3285 and the forecasts for today’s trading session are for the pair to breach this level and to continue the downward movement towards the support at 1.3224. In the upward direction, an attack on the resistance at 1.3352 is still a possibility and, if this level is violated, the pair would most likely start a corrective move towards the resistance at 1.3400. Today, traders will be expecting higher volatility after the announcement of the non-farm payrolls change (13:30 GMT) and the unemployment rate data for the U.S. (13:30 GMT).