EUR/USD, GBP/USD slip while USD/JPY regains lost ground post Israel attack on Iran
EUR/USD, GBP/USD slip while USD/JPY regains lost ground as safe haven flows lead to further US dollar strength
EUR/USD slips again
Following its past couple of days' bounce, EUR/USD is heading back down again amid escalation in the Middle East. The cross eyes Tuesday's low at $1.0601 and the 78.6% Fibonacci retracement of the October-to-December advance at $1.0596. Below this level the late-October lows at $1.0522 to $1.0517 as well as the $1.0449 October low remain in sight.
Resistance sits at Thursday's $1.069 high, made slightly below the key $1.0695 to $1.0725 resistance zone.
GBP/USD drops further
GBP/USD's bounce towards the $1.25 mid-December low was short-lived with the cross falling to new five-months lows as Israel fires missiles at Iran and the US dollar gains on flight to safety flows.
Support sits at the $1.2374 mid-November low ahead of the 61.8% Fibonacci retracement of the October-to-March rise at $1.2365.
USD/JPY falls but then recovers
USD/JPY short-term slid to ¥153.60 before resuming its ascent towards the ¥155.00 mark around which the Bank of Japan (BoJ) may intervene.
Upside pressure will remain in play while last Friday's low at ¥152.60 holds. Were this level to give way, though, the the ¥151.97-91 area might be back in play.
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