EUR/USD, GBP/USD and USD/JPY slip on pared back US rate cut expectations
EUR/USD, GBP/USD and USD/JPY slip on pared back US rate cut expectations ahead of US Non-Farm Payrolls.
EUR/USD rally pauses ahead of NFP
The EUR/USD rally off the $1.0724-23 December and early-February lows has taken it to Thursday's $1.0874 high before giving back some of its recent gains ahead of today's Non-Farm Payrolls data release.
The $1.0874 high was made marginally below the February highs at $1.0888 to $1.0897 which represent a resistance area.
Slips should find support above or near the $1.0796 late-February low.
GBP/USD rally is running out of steam
GBP/USD lost upside momentum slightly above the 55-day simple moving average (SMA) at $1.2669 on Thursday, having levelled out at $1.254 earlier in the week.
Above the 55-day SMA and Thursday's high at $1.2684 lies the 22 February high at $1.271.
Minor support can be spotted around the early-March low at $1.26.
USD/JPY consolidates below 34-year high
USD/JPY once again ran out of steam below its 34-year high at ¥151.97, a rise above which and the ¥152.00 mark would target the ¥153.60 July 1987 peak.
Minor support lies in the ¥150.88-81 region.
While ¥150.27 underpins, an upside bias remains in play.
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