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

The Federal Reserve fired its first warning shot Wednesday that it's going to start hiking interest rates at some point. It came in the form of the Federal Open Market Committee dropping the word "patient" from its post-meeting statement. It's a subtle indication that the era of zero interest rates is about to end. Citing low inflation and a soft job market, the statement added that "an increase in the target range for the federal funds rate remains unlikely at the April FOMC meeting," At a news conference, Fed Chair Janet Yellen said the language change did not indicate a June rate hike was coming either, though she also said it could not be ruled out.
I think we don’t need to pay too much attention to the Fed’s interest rate hikes. We just need to be aware of the following points. First, American economy keeps a good development. Second, it is inevitable to increase interest rate. Only the times will be reduced and the pace slowed. Third, USD will be strong again. Technically, we can pay attention to the USD Index points. The consolidation will at least come to 92.00~90.00 area.
EUR/USD


A relatively strong rally in EUR/USD showed up yesterday evening but it didn’t break above the previous high pint of 1.1437. So we are not sure if the bullish trend restarts or not. We continue to be mainly put options buyers. (HKT)
Support: 1.1342/1.1300 Resistance: 1.1437/1.1480
GBP/USD


GBP/USD rapidly called back after it broke below the 1.4052 level yesterday so it should be invalid down break. However, the bearish trend still remains strong overall so we can not say that the market has got a valid support just based on the first “invalid” downbreak. We think it is more likely to keep falling so we are still mainly put options buyers overall. (HKT)
Support: 1.4052/1.4000 Resistance: 1.4160/1.4200
USD/JPY


A trend for USD/JPY to further decline showed up yesterday. It indicates that the overall bearish momentum is very strong. Room for a further fall directly to 106~107 area has already been open when the price broke below the key support of 111.00 on Tuesday. we are mainly put options buyers overall. Seen from the Chart H1, a rally correction will happen in short term. Therefore, take chance to buy puts and calls during the daytime session.(HKT)
Support: 107.00/106.70 Resistance: 110.00/110.40
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