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EUR/USD, GBP/USD and USD/JPY all move higher

EUR/USD, GBP/USD and USD/JPY all made headway to the upside yesterday, with some stalling of momentum today.

EUR/USD looking for a new move higher

Buyers will be hoping that yesterday’s bounce of EUR/USD markets the beginning of a move towards $1.18 and higher, replicating the August rally.

Sellers meanwhile will look for a renewed drop that can push the price back below $1.17 and reinforce the bearish view.

GBP/USD pauses after bounce

Yesterday’s GBP/USD action seems to have put the pair back on an upward footing, and as a result more gains in the direction of $1.38 seem likely.

Sellers have a big job reversing this view, with a decline back below $1.365 needed to suggest another test of the $1.36 support area.

USD/JPY heads higher

USD/JPY has moved back to the ¥110.50 zone, and now we wait to see if it can stage a breakout after stalling around this level several times since July.

Further gains target ¥111.50, the late June peak.

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