Sellers stay in control for EUR/USD
EUR/USD attempted to rally yesterday, but has been knocked back again.
Having created a new lower low from the 9 May low, it looks like the sellers remain in charge. A move back above $1.1850 would open the way to $1.1915 and then $1.20, while a drop below $1.1760 would suggest a move to $1.1717.
GBP/USD rally falters
The small rally for GBP/USD yesterday moved back in the direction of the $1.3613 top end of the current range, but faltered.
This raised the prospect of a lower high and then further bearish momentum. Further declines will head towards the lows of the range at $1.3450.
USD/JPY finds new targets
USD/JPY has pushed on through ¥110.00 and has taken out ¥110.48.
The next target is ¥110.84, and dips towards ¥109.00 should continue to find buyers.