EUR/USD and GBP/USD make gains against the dollar while USD/JPY moves higher
EUR/USD back at recent highs
EUR/USD rallied from the lows of the past two days, and has made further gains in early trading today.
A close above $1.096 marks a new bullish move and puts the price on course to target $1.10. Sellers will need a close back below $1.09 to suggest some more weakness after Friday’s surge.
GBP/USD tries to form a low
After being knocked back from its gains yesterday, the price has moved higher.
However, while a higher low is still a possibility here, it will need more than one day of gains. GBP/USD has been unable to manage this over the past month, with intraday bounces failing to carry over into the new session. Until this changes, the sellers remain in control.
USD/JPY edges up
USD/JPY continues to recover from its lows for the time being, and while it finished off its highs yesterday it has managed to push higher overnight.
For the moment it has avoided any sustained reversal, though a close back below ¥144.00 might suggest a new leg lower has begun.