Dukascopy Technical Analysis

EUR/USD
"It's rare for FX markets to not test psychological levels in major currencies, so the market will give $1.30 another look and will breach the level in the next week or so"
- BBVA (based on WSJ)
After encountering an accelerated downtrend at 1.3037, EUR/USD has been trading flat.

EUR/JPY
"[The Euro] is likely to keep extending losses as there's no event that could stop its decline amid worries over Spain"
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
For now EUR/JPY is unlikely to exit down trending channel. Rallies should be halted by 107.55/91, 108.22 and 109.05, leaving almost no room for recovery.

GBP/USD
"UK industrial and manufacturing production will be of interest. The market is expecting UK IP to rebound after a disappointing January number, so a downside surprise will weigh on GBP"
- Lloyds (based on Reuters)
GBP/USD has managed to rebound from an uptrend at 1.5803 and is now aiming for 1.5888 and a confluence of resistances at 1.5926/49, which is unlikely to be penetrated at the very first attempt, given mixed signals of most of the indicators.

USD/JPY
"Morgan Stanley MUFG Securities Co., Mizuho Securities Co. and SMBC Nikko Securities Inc. predict that the BOJ will expand asset purchases at a meeting on April 27"
- Bloomberg
USD/JPY is presently forming a symmetrical triangle on an hourly chart. The price is struggling at a resistance at 82.28, which guards 82.49/52 and 82.69/78. In case the pair tumbles, the dip should be limited by levels at 82.03 and 81.87.

USD/CHF
"In the near-term, the SNB may have to intervene to defend their credibility, but whether this policy will continue to work remains to be seen"
- Morgan Stanley (based on Bloomberg)
The currency pair is facing a formidable resistance at 0.9234, thus we are likely to observe a temporary bearish correction down to 0.9167/47 or even 0.9075, before the bullish momentum is reignited.