The draw for the Champions League has pitted Pep Guardiola's Bayern Munich against his former club Barcelona, while handing Italian champions a daunting task against holders Real Madrid. With sub-plots aplenty, and quality assured, the final four of European's premier competition will all feel they have a real chance of adding to their European titles. Sportsmail's reporters look at each side's reasons for optimism, and caution, ahead of the semi-finals... BAYERN MUNICH by Chris Wheeler . Reasons they can win the Champions League… . Bayern have an excellent Champions League pedigree, with a coach in Pep Guardiola who won this competition twice at Barcelona and a squad that has retained its best players since beating Borussia Dortmund in the final at Wembley two years ago. So do Barca and Real Madrid but, unlike their main rivals, Munich can focus largely on Europe thanks to a 12-point lead over Wolfsburg in the Bundesliga and the minor inconvenience of a German Cup semi-final against Dortmund. Guardiola can also expect to call on key players like Arjen Robben, Franck Ribery and Bastian Schweinsteiger who did not appear in either of the quarter-final legs against FC Porto. Pepe Guardiola issues instructions to his players during a supremely impressive performance against Porto . Guardiola must now work out how to prevent his side's old vulnerabilities returning against Barcelona . Reasons they can’t… . Usually so dominant, there is a peculiar vulnerability about Bayern under Guardiola. It was painfully evident in their 5-0 aggregate defeat by Real Madrid in the semi-finals a year ago, and again in the 3-1 loss to Porto earlier this month before they turned it around in the second leg in stunning fashion. Munich cannot afford to be off their game against Barca. No-one knows Guardiola’s game-plan better than his old club. He will have to overcome them - and then possibly Real - if he wants to win the Champions League again. Bayern were brilliant in Munich, but a repeat of their Porto horror-show could see them dumped out . REAL MADRID by Pete Jenson . Reasons they can win the Champions League… . There’s a sense that the worst has past. They did not want Atletico Madrid in the quarter-finals having failed to beat them already six times this season. Then when Jan Oblak worked his miracles in the first leg and the injuries and suspensions mounted up in the second, the task looked even tougher but they came through. Carlo Ancelotti was vindicated for pitching Javier Hernandez into his forward line and moving Sergio Ramos into midfield. With the coach in a strong position and the squad behind him they can do it. Real Madrid will feel like they have got over their biggest hurdle after their late win over Atletico Madrid . Reasons they can’t… . No one player is more important to Real Madrid than Luka Modric. They can cope without Bale if Ronaldo is playing and they can cope without Ronaldo if Bale is playing — they won the Copa del Rey last year that way. But Bale’s former Tottenham team-mate has no real replacement. Atletico were poor on Wednesday night and so the Croatian was not missed too much but against Juventus his absence will be felt. He could be back for the final but they may not get there without him. The injury to Luka Modric is the single biggest obstacle standing in Carlo Ancelotti's way to retaining the title . JUVENTUS by Neil Ashton . Reasons they can win the Champions League... The travel advice to anyone planing to watch Juventus in the semi-final is to take a good book. Massimiliano Allegri’s team are living proof that the art of defending Italian-style is alive and well after keeping nine clean sheets in their last 10 matches. That three-man defence, comprising Leonardo Bonucci, Andrea Barzagli and Giorgio Chiellini, loves smothering opposition strikers. Conceivably both legs of the semi-finals could finish 0-0 (as well as the final) and the Italians will be delighted to fast-forward to the penalty shootout. Up front they rely on the example set by their talisman Carlos Tevez, with his non-stop chasing and harrying of opposition defenders, plus his goals. The likes of Giorgio Chiellini (left) and Leonard Bonucci have provided a solid defence for Juve to build on . Reasons they can’t… . Even Allegri knows there are many limitations with this Juventus team. Do not get seduced by the cries of ‘Ole ole ole ole, Juve Juve,’ because tiki-taka this isn’t. Andrea Pirlo’s masterful powers are also on the wane after his brilliant career with Milan, Juve and Italy. Andrea Pirlo still runs the show for the Old Lady, but the Italian's best days are now behind him . BARCELONA by Pete Jensen . Reasons they can win the Champions League… . It may be true that Bayern Munich have scored 115 goals this season but Leo Messi, Luis Suarez and Neymar have scored 95 between them. Barcelona’s front three have clicked in a way that Luis Enrique would not have dared dream. Neither is the Barcelona forward line ornamental when the team are defending. Messi drops deep to try to get the team passing — once he has stopped being Messi he will become the new Xavi — and Suarez defends from the front chasing down the opposition and forcing errors. There is a sense that they are carrying the team to Berlin. Barcelona's front three of Luis Suarez (left), Neymar (centre) and Lionel Messi can carry the whole team . Reasons they can’t… . For now there are neither injuries nor suspensions but they are forever on the cusp of a potential crisis because the strength in depth is just not there. Ivan Rakitic, Sergi Busquets and Andres Iniesta is a fine midfield but the second-string middle three of Rafinha, Sergio Roberto and the now 35-year-old Xavi offers fewer guarantees. Likewise at the back there is a gulf in class between the four first-choice defenders and those who would have to step in. Injuries to key players like Ivan Rakitic could expose the lack of depth in Barcelona's squad .
Bayern Munich dmonstrated their quality in second-leg demolition of Porto .
But Pep Guardiola's side still have major vulnerabilities, as first leg showed .
Real Madrid may struggle without Luka Modric, despite easier draw .
Juventus' defence is reason for hope, but Andrea Pirlo is past his peak .
Barcelona's front three is formidable, but they lack required depth .