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EUR/JPY resumes its ascent, EUR/GBP stalls and GBP/USD bounces off support​

​​​EUR/JPY resumes its ascent on verbal BOJ intervention, while EUR/GBP stalls and GBP/USD bounces off support​​.

GBP Source: Bloomberg

​​​EUR/JPY resumes its ascent

EUR/JPY has recovered from Monday's ¥163.32 low and is seen heading back up towards its ¥165.35 March high, a level last traded in August 2008 with the October 2007 record high at ¥167.74 representing the next upside target.

Below Monday's ¥163.32 low lies minor support at the ¥162.68 mid-March high.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

​EUR/GBP consolidates

​Last week's break through and daily chart close above the £0.8573 to £0.8578 key resistance area is bullish for EUR/GBP with the 200-day simple moving average (SMA) at £0.8606 remaining in focus.

Slips below this previous resistance area, now because of inverse polarity a support zone, and Monday's £0.8565 low should find support between the 18 March high and the 55-day SMA at £0.8562 to £0.8551. 

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

​GBP/USD bounces off support

GBP/USD is seen bouncing off the 200-day SMA at $1.2589 and last week's low at $1.2576. Below this level sits key support between the December-to-February lows at $1.2519 to $1.25 which remains in sight.

Resistance is seen along the 55-day SMA at $1.2683.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

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