EUR/USD loses upside momentum while GBP/USD stays bid and USD/JPY resumes its descent
EUR/USD loses upside momentum while GBP/USD stays bid and USD/JPY resumes its descent amid heightened uncertainty surrounding US tariffs.
EUR/USD comes off six-month high
EUR/USD has reached the November peak at $1.0936 from where it short-term consolidates before moving on to the psychological $1.1000 region.
Potential support remains to be seen along the 200-day simple moving average (SMA) at $1.0721.
GBP/USD remains bid
GBP/USD continues to advance towards the $1.3000 region.
Minor support can now be spotted at the 10 March low at $1.2862 ahead of the 200-day SMA at $1.2789.
USD/JPY resumes its descent
USD/JPY once again has the late September ¥146.49 high in its sights, below which lies the late August low at ¥143.45.
Immediate resistance sits between the December to late February lows at ¥148.57-to-¥148.65 ahead of Wednesday's ¥149.20 high.
Only a currently unexpected bullish reversal and rise above the early March high at ¥151.30 would question our medium-term bearish view.
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