EUR/USD, GBP/USD grapple with resistance while USD/JPY tops out around ¥160.00 mark
EUR/USD tries to break through resistance
EUR/USD is once more trying to break through its key $1.069 to $1.0725 resistance zone, a daily chart close above it would neutralize our medium-term outlook for good.
Further up lies the $1.0791-96 zone. Minor support is found at Friday's $1.0674 low.
GBP/USD retests key resistance
GBP/USD is trying to overcome the major $1.25 to $1.252 resistance area. If successful, our medium-term bearish view will be neutralized and the March-to-April downtrend line at $1.26 be in focus.
Minor support sits at Friday's $1.2449 low.
USD/JPY rallied to ¥160.21 before topping out
USD/JPY has briefly overcome its April 1990 high at ¥160.16 by rising to ¥160.21 before the Bank of Japan (BoJ) likely intervened and aggressively sold US dollars alongside several Japanese banks. This resistance area is expected to cap for now.
Support below Monday's ¥155.05 low comes in along the March-to-April uptrend line at ¥154.56.
