Monday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY

According to the latest data, the Eurozone is still in deflation though the decline in the Consumer Price Index for March on a year-on-year basis is less than February. Negative yields now has expanded into markets of Corporate Bonds from earlier markets of government bonds. Moreover, negative interest rate begins to happen in bank deposit and lending. The strange phenomenon that the lender “subsidizes” the borrower is common in the Eurozone. It sounds very stupid to buy bonds with negative yields because it means to lend money to the government and companies and to subsidize the interest at the meantime. Right because of this, the European Bonds market now has been described as “charities”. It seems terrible but EUR/USD remains strong all the way through. It has gone through a strong consolidation at high levels for two weeks but no big fall has happened as expected, which is quite strange. Anyway, we keep bearish for EUR.
EUR/USD


EUR/USD has been in consolidation at high levels for several days but no big fall has happened as expected. As seen from the morning trend, a further rise is possible, we are mainly call options buyers in the morning session before the 1.1440 resistance. Please keep in mind that it is possible for a rapid decline．(HKT)
Support: 1.1353/1.1330 Resistance: 1.1431/1.1500
GBP/USD


Seen from the Chart H1, there is still room for a further rise. But according to MACD, the momentum is not strong. If no obvious trend shows up in the morning session, just stand by. Call options can be purchased with caution during the daytime session. (HKT)
Support: 1.4100/1.4038 Resistance: 1.4150/1.4160
USD/JPY


A new low has happened again in USD/JPY and room for a further decline exists. Therefore, we are mainly put options buyers first in the morning session before the key support of 107.00~106.60. Pick chances to buy calls there.
Support: 107.00/106.60 Resistance: 108.20/108.50
[Tips]
All the information mentioned above is for reference only. FX77 Option 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.