EUR/USD and GBP/USD under pressure as USD/JPY recovers
A stronger dollar has lifted USD/JPY, while putting pressure on EUR/USD and GBP/USD.
EUR/USD lower high now in play?
The bounce here with EUR/USD has stalled at the 50-day simple moving average (SMA), and with the pair beginning to move lower in opening trading a fresh move to the downside may be developing.
This might signal the resumption of the downtrend, potentially targeting $1.08 and lower. A rally above $1.12 negates this view.
GBP/USD heads lower
The small gains with GBP/USD from earlier in the week appear to be at risk, as the price drops back towards $1.312.
Additional declines below $1.305 would put the price below Tuesday’s low, and open the way to $1.3 and lower.
USD/JPY recovers some losses
After slowing its decline yesterday USD/JPY has moved higher, recouping some lost ground. This revival puts recent highs at ¥125.00 into view.
Sellers will need to find a way to push the price back below ¥121.30 to suggest a deeper retracement is still possible.
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