Falls in EUR/USD and GBP/USD stemmed for now, while USD/JPY bounce stalls

A dollar resurgence has hit EUR/USD and GBP/USD, while USD/JPY has paused for breath after a bounce from the lows of the week.

EUR/USD edges higher after Wednesday’s losses

The EUR/USD pair fell back sharply yesterday, finding support around $1.183.

A rally back towards $1.196 could be in play if the pair can continue to hold the overnight lows, while a more bearish view develops if the price drops below $1.182. This would bring $1.178 and then $1.172 into view.

GBP/USD suffers rapid fall

The pound fell back from its recent high against the dollar, finding a low for GBP/USD for the time being around $1.307.

A rebound towards $1.325 could develop if the pair can hold these levels, while altivernately a more bearish view requires a push below $1.297.

USD/JPY bounce stalls

A surge from the lows of the week has run into some resistance around ¥106.10 for USD/JPY.

However, after the impressive bounce from ¥105.00 some consolidation or a modest retracement looks necessary. We look for a possible higher low in the coming sessions, while further gains target ¥106.70 and then ¥107.00.

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