This article analyzes EUR/USD and USD/JPY from a technical perspective, examining recent price action dynamics and important price levels that deserve attention in the short term.
EUR/USD soared to its best level in nearly two months last week following soft U.S. labor market data and cautious commentary from the Federal Reserve chief. Bullish impetus, however, has started to wane over the past couple of days, with the pair retracing recent gains and now challenging support in the 1.0695/1.0670 area.
Keen to understand the role of retail positioning in EUR/USD's price action dynamics? Our sentiment guide delivers all the essential insights. Get your free copy now!USD/JPY extended its recovery on Tuesday, rising for a second consecutive day and decisively consolidating above the psychological 150.00 level after weak Japanese wageis positioned at 150.90, followed by the 2023 swing high near the 151.00 mark. On further strength, the focus transitions to 153.
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