EUR/USD, GBP/USD and USD/JPY look to make gains
Risk appetite is recovering, leading to gains for the euro and sterling against the dollar, and for the dollar against the yen.
EUR/USD looks for gains after Tuesday recovery
EUR/USD bulls will be hoping that the bounce from yesterday’s lows marks the beginning of a broader recovery that will renew the move higher from late August and see the pair move back to, and then above, the $1.19 level.
Yesterday saw the price recover from a $1.177 low to end the day flat, providing hope for the bulls. Sellers will want to see this reversed to open the path to $1.165.
GBP/USD targets further gains
After being knocked back on Friday, the GBP/USD's price managed to bounce from $1.38 yesterday, leaving the upward move intact.
Recent gains have stalled around $1.387, so a bigger rebound requires this level to be broken to the upside to open the path to $1.40. The bearish view has been negated for the time being, but would be revived to an extent with a move back below $1.375.
USD/JPY pushes higher
USD/JPY continues to claw back losses after the drop seen last Thursday.
A continued move higher brings ¥110.40 into view, and then on to ¥110.70, where gains have stalled since mid-July. The ascendancy of the bullish view is still only slight, and a move back below ¥109.50 would put the bears in charge for the time being.
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