EUR/USD, GBP/USD took a hit while USD/JPY surged higher post US CPI print
EUR/USD, GBP/USD took a hit while USD/JPY surged higher post US CPI print and the question now is whether the ECB might give more pointers on a possible June rate cut at its monetary meeting.
EUR/USD fell out of bed
EUR/USD swift bearish reversal has taken it back down towards key support seen between $1.0725 and $1.0694. Here the cross is expected to once again stabilize, at least short-term. If not, a longer-term bearish signal would be triggered.
Minor resistance can be spotted at Friday's $1.0791 low.
USD/JPY trades at June 1990 levels
USD/JPY has made a new 34-year high by rising above its November ¥151.97 peak with the ¥153.6 July 1987 peak being eyed.
Support can now be seen at ¥151.97-91 ahead of the ¥150.88-81 support zone. While it underpins, an upside bias remains in play.
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