The initial comments from Fed's Powell has helped to push yields lower with the 10 year yield now down -6.1 basis points. That has also led to a decline in the US dollar:
- EURUSD is moved above it swing area between 1.07208 to 1.07346. The price high just reached 1.07462. The 50% of the range since mid-April comes in at 1.07579 and represents the next target for buyers.
![EURUSD](https://images.forexlive.com/images/EURUSD_id_bcbb0718-855e-443a-933e-cc2a7c4aa931_original.jpg)
- USDJPY is moving lower and tests the high price on Friday at 161.275, breaking below that level would have traders looking toward the 100-hour moving average at 160.944 (blue line on the chart below). Getting and staying below that 100-hour moving average would be the first break since June 14. As such it represents a key technical level for sellers to get to and through if they are to take more control.
![USDJPY](https://images.forexlive.com/images/USDJPY_id_1bf0d597-f7f0-4e6f-bf66-59caea563289_original.jpg)
USDJPY falls to the high from Friday
- GBPUSD is pushing to new highs and is approaching its 100-bar MA on the 4-hour chart at 1.26909. The 200 bar MA on the same chart comes in at 1.27132.
![GBPUSD](https://images.forexlive.com/images/GBPUSD_id_87573093-c762-4395-802a-8e4df9dedda8_original.jpg)