USDJPY
EURUSD
USDJPY
EURUSD, USDJPY & GBPUSD Technical Analysis: USD Firmer into North American Session
Key Takeaways (30s Read)
The USD is firming into the North American session, drawing attention to resistance levels in USDJPY.
As the North American session begins, the USD is strengthening, supported by weaker inflation data from the UK and rising US yields. Specifically, EURUSD is edging lower at 1.1714, holding above the critical support at 1.1700 and the midpoint level at 1.16929. Tomorrow's ECB interest rate decision is expected to keep rates unchanged. Meanwhile, USDJPY is trading at 155.46, down 0.48%, with price fluctuating between the 200-bar (155.265) and 100-bar (155.700) moving averages as sellers remain active. In contrast, GBPUSD is the weakest of the trio, currently at 1.3335, down 0.63% due to the underwhelming UK inflation report which has bolstered expectations of a potential BOE rate cut. Overall, the strengthening dollar may weigh on resistance levels in USDJPY.
AI Analyst
AI Opinion
"In the broader market context, the strength of the US dollar is being supported by robust growth and inflationary pressures. Conversely, weaker UK indicators have put downward pressure on GBP, bolstering expectations for a BOE rate cut. Specifically, interest in USDJPY is rising, especially with the upcoming Bank of Japan decision on Friday, making movements around resistance lines a key focus. Risks include the potential impact of any changes in monetary policy or economic indicators on market sentiment. For now, the trend supported by the dollar strength appears to be continuing, and investors will need to carefully assess the situation to identify entry points."
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