EUR/USD continues to push higher
The price for EUR/USD dropped back from recent highs, but having broken out of the downtrend from the highs of February, the buyers remain in control.
The $1.2368 level is holding as support, and if this is lost then we would look to $1.2340 and a retest of the trendline from above. Near-term targets are at $1.2450 and then $1.25.
EUR/USD price chart
GBP/USD trend intact
Dips over the past two days have found buying strength, as the steady uptrend continues for GBP/USD, reaching $1.4220 and then $1.4278.
A break of $1.3960 is needed to put a more bearish view on the pair.
GBP/USD price chart
USD/JPY poised for new turn lower
The rebound has created a new lower high for USD/JPY, with the price remaining firmly in the current downtrend.
A fresh move lower will target last week’s lows around ¥104.60. A further rally will head back towards ¥106.70.
USD/JPY price chart