Ella 
EUR/USD and GBP/USD are nearing critical support levels, while USD/JPY maintains a bullish stance, according to recent market observations.
EUR/USD: Close to Minor Support
EUR/USD is currently hovering near its late February low at $1.0797, which is anticipated to provide interim support. Resistance levels are identified around the 200- and 55-day simple moving averages (SMA) at $1.0837 to $1.085.
GBP/USD: Retracement to Key Support
GBP/USD experienced a bearish reversal from last week’s high of $1.2803 following the Federal Reserve (Fed) meeting. It has retreated to the 200-day SMA at $1.259, with notable support anticipated between the December-to-February lows at $1.2519 to $1.25. Immediate resistance is observed around the 55-day SMA at $1.2684.
USD/JPY: Short-Term Stall Amidst Bullish Momentum
USD/JPY has witnessed a rapid ascent, briefly surpassing the ¥151.73 October peak to reach ¥151.86 before consolidating some gains towards the end of the previous week. Despite this retracement, the cross maintains a bullish outlook, with support around last Thursday’s low at ¥150.27. Upside pressure persists, with focus remaining on the late October and November peaks at ¥151.91-94. Minor support above ¥150.27 lies in the ¥150.88-83 region.
As the market continues to monitor these key support and resistance levels, traders remain attentive to potential shifts in sentiment and price dynamics across these currency pairs.
