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EUR/USD, GBP/USD remain bid while USD/JPY drops to ¥140 region​

​​​EUR/USD, GBP/USD remain bid while USD/JPY drops to ¥140.00 region​ amid weakening US dollar as US President Trump attack’s the Fed’s independence.​

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:
Forex pairs Source: Adobe images

​​​EUR/USD advances further still

Monday's EUR/USD advance taken it above its February 2022 peak at $1.1495 to $1.1573, close to the $1.1603 November 2020 low. It represents the next upside target. 

Potential slips may find support around the 11 April high at $1.1473.

EUR/USD chart Source: TradingView

​GBP/USD rallies for eleventh straight day 

GBP/USD is on track for its eleventh straight day of gains whilst gunning for the February 2022 low at $1.3487. 

​Minor support below the $1.3292 mid-April high can be spotted around the 3 April $1.3207 high.

GBP/USD chart Source: TradingView

​USD/JPY trades in seven-month lows 

​USD/JPY is rapidly approaching its September trough at ¥139.58 but on Tuesday is trying to stabilise in the ¥140.00 region. 

​Minor resistance can be seen at the mid-April ¥141.65 low, ahead of the 9 April low at ¥143.99.

USD/JPY chart Source: TradingView

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