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Forex Market Forecast – Euro, Pound, and Yen Test Support as US Yields Drift
['Christopher Lewis', 'Tue', 'August At Pm Gmt', 'Min Read']
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Source: TradingViewThe Euro has bounced a bit during the early part of the trading session here on Tuesday as we are sitting just above a short-term support level that has been important a couple of times.
GBP/USD Technical AnalysisGBP/USD tests the 1.3500 level above both EMAs, consolidating within a range near the 1.3550 recent high.
Source: TradingViewThe British pound has rallied a bit early from a support level, gave back those gains, and now looks as if it's trying to fight to get back above the 1.35 level again.
USD/JPY Technical AnalysisUSD/JPY bounces to 159.21 above both EMAs, with 158.00 as near-term support and the 160.00 level overhead.
Source: TradingViewThe US dollar is bouncing slightly from a short-term support level in the form of 159 yen against the Japanese yen.