EUR/USD and GBP/USD move higher while USD/JPY keeps climbing
A return to QE in the eurozone has not managed to push EUR/USD lower, while Brexit news has driven GBP/USD higher.
EUR/USD rallies in early trading
Despite the return to quantitative easing (QE) by the European Central Bank (ECB), EUR/USD has rallied, pushing through the $1.106 zone that acted as resistance earlier in the week.
There is still much work to be done to reverse the ongoing downtrend, and even a push towards $1.115 might still provide a strong selling opportunity. A reversal below $1.105 would also signal that the post-ECB strength has run its course.
GBP/USD rallying on Brexit news
GBP/USD continues to push higher, breaking above resistance this morning in decisive fashion.
A close above $1.237 would signal that a move toward $1.25 is underway, while a reversal below $1.225 would be the cue for a bearish turn.
USD/JPY continues to climb
USD/JPY continues to defy expectations, continuing its uptrend.
So far there is no sign of the sustained reversal needed to indicate that a near-term top is in. Further gains head towards ¥109, where gains in July stalled.
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