​​​USD/JPY

​The unwind continues here, and USD/JPY has touched the ¥142.00 level for the first time since January.

​There is no sign of a low forming yet, though the price has bounced off ¥142.00. December 2023’s low at ¥140.25 now comes into view in the event of further losses.

Source: ProRealTime Source: ProRealTime

​EUR/USD

EUR/USD saw an impressive reversal on Friday as the US dollar (USD) slumped following the payrolls report.

​The price is back to the $1.09 area, which marked the limit of gains in May and June. Further gains target the March high at $1.098. With expectations of a bigger Federal Reserve (Fed) interest rate cut in September at 94.5%, it seems likely USD weakness will continue to drive the pair higher.

Source: ProRealTime Source: ProRealTime

​GBP/USD

GBP/USD is bouncing from the lows of last week on dollar weakness. Further upside will boost the view that the pair has bottomed for the time being and a new move to $1.30 is underway.

​A close back below $1.27 would be needed to negate this view.

Source: ProRealTime Source: ProRealTime