EUR/JPY remains near dominant channel

Dukascopy Bank Team Dukascopy Bank SA

Despite signals showing possible recovering during the previous trading session, the EUR/JPY pair failed to overcome the bearish pressure, and by the end of the European trading session, the currency pair lost 124 points.

Meanwhile, the exchange rate breached the monthly pivot point. This might suggest that bears dominance over the pair is likely to continue further.

Given that the pair has not yet able to breach the upper boundary of the channel down, it is likely that this session does not introduce significant changes to its positioning.

Interested in EUR/JPY technicals? Check out the key levels

1. R3 134.6
2. R2 134.14
3. R1 133.83
PP 133.36
1. S1 133.05
2. S2 132.59
3. S3 132.28

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.