Setups: EUR/USD, USD/JPY, GBP/USD, EUR/CHF, EUR/JPY, USD/CAD - Barclays
EUR/USD: We are overall bearish and would prefer to fade gains against the 1.1465 range highs. A move below 1.1210 would confirm our bearish view towards targets near the 1.1145 range lows and then the 1.1065 area. Initial resistance in near 1.1335, the 21-dma.
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USD/JPY: We are neutral and look for signs of a top to re-initiate our overall bearish view. Further upside squeeze through resistance near 112.10 would risk higher in range towards 113.30 before sellers emerge. A move below 110.65 would encourage downside towards 109.75 and then the 1.0760 lows.
GBP/USD: We prefer to fade upticks against the 1.4670 highs and look for a move below 1.4300 to open targets near 1.4005. Beyond there we look to re-test the 1.3835 year-to-date lows.
EUR/CHF: We are bullish and look for a break above our initial targets near the 1.1025 March range highs to confirm upside traction towards 1.1060 and then the 1.1115 area.
EUR/JPY: We are neutral in the short-term and prefer to fade upticks in range. We are looking for signs of a top ahead of the 128.25 range highs. Our targets are at the 121.70 lows and then lower towards 118.75.
USD/CAD: We are bearish and look for further downside towards initial targets in the 1.2510/65 area. Our greater targets are towards 1.2125 and then 1.2050/1.1915.
