Wednesday’s Technical Analysis: EUR/USD, USD/JPY, EUR/USD

During the session today, Bank of England meeting and its president’s address as well as British Employment data will dramatically influence the volatility of GBP. Moreover,as the most important data this week, Fed’s interest rate hike decision may find its way from rising economy data and positive inflation situation. In that case, USD has great opportunity to break though consolidation level and bounce upward.EUR/USDAs the EUR/USD pair has shown a bullish momentum in short-term period, we are buyers of call option on dips. Support is found at 1.1220/1.1185 and resistance at 1.1320/1.1380.

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USD/JPYWe are considering buying call options on dips, since the USD/JPY pair has bounced off with sentiment. Resistance is found at 124.0/124.50 and support at 123.0/122.5.

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GBP/USDThe GBP/USD pair continued to consolidate with bearish momentum, and we like buying put options on pips. Resistance is found at 1.5700/1.5760 and support at 1.5550/1.5450.

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[Tips]All the information mentioned above is for reference only. FX77 team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.

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