EUR/USD holds post-NFP high while USD/JPY edges higher
While EUR/USD hasn’t moved higher, it is managing to hold most of the gains from last week. Meanwhile, sterling is struggling against the dollar, but USD/JPY continues to look for more gains.
EUR/USD still near recent highs
The price of EUR/USD continues to hold on to post-non farm payroll (NFP) strength, holding above $1.13.
Above $1.135, the price heads towards $1.143, with the possibility that a longer-term low is in place. A move back below $1.12 restores the more bearish view and suggests another push back to $1.112.
GBP/USD mixed ahead of employment figures
Employment and wage data may help to restore some bullish to the GBP/USD pair, which has fallen over the past two days.
An inability to recover $1.27 would suggest that the price is likely to head back below $1.265, then pushing back towards the end of May low at $1.256. Above $1.27 the price will head back towards $1.276.
USD/JPY continues to edge higher
The USD/JPY pair continues to climb, although in small steps.
Trendline resistance from the April high would likely come into play around ¥109.20. A push above ¥108.00 creates a new intraday higher high. Pullbacks towards ¥107.90 have found buyers, so as long as this holds the outlook leans towards a bullish view.
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