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The common European currency declined by 49 pips or 0.38% against the Japanese Yen on Tuesday. The decline was stopped by the 50– hour simple moving average at 129.60 during Tuesday's trading session.

All things being equal, bullish traders are likely to continue to drive the exchange rate higher during the following trading session. The potential target for buyers will be near the 130.60 level.

However, the EUR/JPY currency exchange rate may encounter resistance at 130.14 within this session.

Daily Pivots: (S1) 0.9121; (P) 0.9147; (R1) 0.9180; More....

Outlook in USD/CHF remains unchanged as range trading continues. Intraday bias stays neutral at this point. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.927.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9176) retains medium term bearishness in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

The common European currency declined by 49 pips or 0.38% against the Japanese Yen on Tuesday. The decline was stopped by the 50– hour simple moving average at 129.60 during Tuesday's trading session.

All things being equal, bullish traders are likely to continue to drive the exchange rate higher during the following trading session. The potential target for buyers will be near the 130.60 level.

However, the EUR/JPY currency exchange rate may encounter resistance at 130.14 within this session.

Daily Pivots: (S1) 109.70; (P) 109.89; (R1) 110.19; More...

Outlook in USD/JPY remains unchanged as range trading continues. Intraday bias stays neutral first. On the downside, break of 109.10 will target 108.71 support first. Firm break there will resume the decline from 111.65 and target 38.2% retracement of 102.58 to 111.65 at 108.18 next. On the upside, break of 110.79 will resume the rebound from 108.71 to retest 111.65 high.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. The pattern from 101.18 could still extend with another falling leg. Sustained trading below 55 day EMA will bring deeper fall to 107.47 support and below. Nevertheless, strong break of 111.71 resistance will confirm completion of the corrective decline from 118.65 (2016 high). Further rise should then be seen to 114.54 and then 118.65 resistance.

EUR/USD

Current level - 1.1800

After the false breach of the resistance at 1.1829 the bulls did not gain enough momentum to send the pair towards the next resistance at 1.1893 and the EUR/USD retraced, reaching the support zone at 1.1800. A breach of the mentioned support could lead to a test of the support at 1.1771. If the bulls re-enter the market and successfully violate the resistance at 1.1829,, thus leading the pair for an attack of the resistance at 1.1893. During today's trading session, investors' attention will be focused on the data on the U.S. non-farm employment change (12:15 GMT) and the ISM manufacturing (14:00 GMT).

USD/JPY

Current level - 110.16

At the time of writing this analysis, the pair is testing the resistance at 110.18. If this level succumbs to the bullish pressure, this would end the consolidation phase and lead the pair towards the resistance at 110.52. If this resistance manages to hold off the bulls, the USD/JPY would most probably continue trading in the range between 109.48 and 110.18.

GBP/USD

Current level - 1.3732

The resistance at 1.3800 wasn't breached and the pair will most probably test the support at 1.3723. In case the bears do not manage to violate this level, this would be a signal for an upward movement towards a test of the resistance at 1.3800 and if it is breached, this would give a chance to the bulls for an attack of the next resistance at 1.3880. However, if bears prevail, their first support would lie at the level of 1.3600. Volatility will most likely rise after the announcement of the manufacturing PMI at 08:30 GMT.

Daily Pivots: (S1) 0.7288; (P) 0.7315; (R1) 0.7342; More...

Intraday bias in AUD/USD remains on the upside for the moment. rebound from 0.7105 short term bottom should target 0.7425 resistance first. Sustained break there will argue that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Stronger rise would be seen to 0.7530 support turned resistance for confirmation. On the downside, below 0.7283 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 0.5506 medium term bottom could have completed at 0.8006, after failing 0.8135 key resistance. Correction from there could target 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051). We'd look for strong support from there to bring rebound. However, sustained break of this level would argue that the whole medium term trend has indeed reversed. Deeper decline would be seen to 61.8% retracement at 0.6461.

Daily Pivots: (S1) 1.2573; (P) 1.2613; (R1) 1.2657; More...

USD/CAD is losing some downside momentum as seen in 4 hour MACD. But further decline is still in favor with 1.2706 minor resistance intact. Fall from 1.2947 would target 1.2421 support. Sustained break there will suggest rejection by 1.3022 fibonacci level. Rise from 1.2005 could have completed in this case and deeper fall would be seen to retest this low. On the upside, break of 1.2701 minor resistance will retain near term bullishness, and turn bias back to the upside for retesting 1.2947 high.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It should have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650 and above. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.0783; (P) 1.0808; (R1) 1.0833; More....

Intraday bias in EUR/CHF remains on the upside, as rebound from 1.0694 is on track to 1.0839 resistance. Sustained break there will turn near term outlook bullish for 1.0863/0985 resistance zone. On the downside, however, break of 1.0780 minor support will turn bias back to the downside for retesting 1.0694 low instead.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0859) holds. Break of 1.0505 low would be seen at a later stage.

Daily Pivots: (S1) 0.8568; (P) 0.8584; (R1) 0.8601; More...

EUR/GBP's rebound from 0.8448 is in favor to continue as long as 0.8534 support holds, for 0.8668 resistance. . Firm break there will be a strong sign of near term bullish reversal at least. On the downside, however, break of 0.8534 will turn bias back to the downside for retesting 0.8448 low instead.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 1.6107; (P) 1.6151; (R1) 1.6189; More...

Intraday bias in EUR/AUD remains on the downside as fall from 1.6434 short term top is in progress. Deeper fall would be seen to 1.5898 structural support next. Sustained break there will argue that choppy rise from 1.5250 has completed already. Outlook will be turned bearish for retesting 1.5250 low. On the upside, however, above 1.6263 minor resistance will revive near term bullishness, and turn bias back to the upside for 1.6434 high instead.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We'd tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed and bring retest of 1.5250 low.