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ForexMediumUpdated×7•Originally published 15 April 2026•Updated 17 April 2026•
1 min read

Forex Outlook: Bullish Momentum for EUR and GBP Amid USD/CAD Downward Pressure

Key Facts

1GBP/JPY maintains an upside bias, targeting the 219.43 level based on Fibonacci projections.
2EUR/USD shows bullish momentum, aiming for a retest of the 1.2081 high if the 1.1824 resistance is broken.
3USD/JPY continues to consolidate below 160.45, with the outlook remaining bullish as long as support at 157.49 holds.
4USD/CAD is under downward pressure, targeting a 61.8% retracement at the 1.3665 level.

Technical updates indicate that EUR/JPY has resumed its uptrend, targeting 188.98, while a break of the 187.07 support would signal a short-term top. For GBP/JPY, the intraday bias remains neutral below 215.89, with a decisive break expected to push the pair toward the 219.00 area. Meanwhile, USD/CAD continues its decline from the 1.3965 peak, eyeing the 61.8% Fibonacci retracement level at 1.3665. In other crosses, EUR/AUD maintains a bearish bias targeting 1.6125 as long as the 1.6667 resistance holds, whereas EUR/CHF is trading sideways with an upside target of 0.9394 provided the 0.9155 support remains intact. These developments highlight a mixed performance across major and minor pairs as the Canadian Dollar faces sustained corrective pressure.