EUR/USD higher while USD/JPY moves into reverse
The euro has rallied sharply against the dollar, while USD/JPY remains stuck below key resistance.
EUR/USD continues its surge
EUR/USD has recovered well in the past week, having found support at $1.106 and broken out of the bullish wedge.
A close above $1.12 would be a fresh bullish sign, and with higher lows in place since the end of September, the outlook seems more positive.
USD/JPY retreats from resistance
Yet again for USD/JPY a move to ¥109.50 has run into resistance.
Further declines head toward the 50-day simple moving average (SMA) at ¥108.95, which would mark a fresh higher low. A break below ¥108.80 would be a negative development.
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