EUR/JPY keeps the bid bias unaltered and approaches 142.00.The next target of note comes near 143.00 (December 28).EUR/JPY advances for the third consecutive session and flirts with the 142.00 neighbourhood on Tuesday.
In light of the ongoing price action, further upside should not be ruled out in the short term. That said, the immediate up barrier appears at the weekly high at 142.93 (December 28), which appears reinforced by the proximity of the 100-day SMA, today at 142.99.The outlook for EUR/JPY is expected to shift to constructive while above the 200-day SMA at 140.58.
EUR/USD treads water above 1.0700 ahead of Powell
EUR/USD is trading sideways above 1.0700 in Tuesday’s European trading, awaiting fresh impetus to extend the advance. The US Dollar pauses its sell-off, as the US Treasury bond yields rebound amid a mixed market mood. Fed Chair Powell’s speech is in focus.
EUR/USD News
GBP/USD drops toward 1.2150 amid cautious mood
GBP/USD is dropping to test 1.2150, portraying cautious markets ahead of speeches by BoE’s Bailey and Fed’s Powell. The US Dollar attempts a bounce amid hawkish Fed commentary and a tepid risk tone.
GBP/USD News
Gold sits near multi-month top ahead of Powell’s speech
Gold price extends its consolidative price move for the second successive day on Tuesday and holds steady near an eight-month high touched the previous day. The XAU/USD is currently placed just below the $1,880 level.
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