Ella 
The currency pairs EUR/USD, GBP/USD, and USD/JPY experience declines as expectations for a US rate cut are scaled back ahead of the release of the US Non-Farm Payrolls report.
EUR/USD Rally Pauses Before NFP
The recent rally of the EUR/USD pair from the lows of $1.0724-23 in December and early February has reached a high of $1.0874 on Thursday before retracing some gains in anticipation of today’s Non-Farm Payrolls data.
The peak of $1.0874 falls slightly below the February highs ranging from $1.0888 to $1.0897, which serve as a resistance zone.
Potential declines are expected to find support above or near the late-February low of $1.0796.
GBP/USD Momentum Stalls
GBP/USD has shown a loss of upside momentum just above the 55-day simple moving average (SMA) at $1.2669 on Thursday, after stabilizing at $1.254 earlier in the week.
Beyond the 55-day SMA and the Thursday high at $1.2684, lies the February 22 high at $1.271.
Minor support levels can be identified around the low of early March at $1.26.
USD/JPY Consolidates Below Historic High
USD/JPY once again reached an impasse beneath its 34-year high at ¥151.97, with a potential breakthrough indicating a target of the ¥153.60 peak in July 1987.
Support at the minor level is noted in the ¥150.88-81 region.
As long as ¥150.27 remains intact, a bullish bias persists.
