The USD is higher with the USDJPY the biggest mover with a gain of 0.59% after testing a swing level near 160.446 on Friday and bouncing and continuing the run to the upside today back through the 100 and 200 hour MA between 161.86 and 161.92.
Remember the 161.95-97 was the old high from 2024 which took the pair to the highest level since 1986 during last week’s trade
The price is trading near 162.30. The EURUSD (-0.18%) and the GBPUSD (-0.07%) are more contained but lower. For the EURUSD is it trading just below the 100 hour MA at 1.1416 with the 200 hour MA at 1.1398 as the next target.
Last week, the price reached the 50% of the move down from the June 15 high at 1.14727. For the GBPUSD, the buyers tried to extend above a swing area between 1.33658 and 1.33739 on Thursday and Friday of last week, but backed off. Today, the price dipped back toward the 50% midpoint of the move down from the May 26 high at 1.33244.