US Dollar Hits 3-Year Low

USDJPY: The USDJPY reached new week lows today with the 80.96 level on being the next target support on the daily chart below. The pair is down to the non-trending area after the concerted central bank intervention.  The low for that consolidation was 80.69, while the high was at 81.30.

 

EURUSD: The pair is pushing yesterday’s high at 1.4881 with support along trendline at 1.4855. The market has to make a choice.  Does it break higher after consolidating, or crack the trendline and look to correct lower?