Yesterday the US market was on holiday and the Dollar-Index (DXY) printed a new high (110.27) in thin markets. So the real trading week does not start until today and we will see what yesterday's high is worth. Support can be found already around the 109.30 level.
(source: fxstreet.com)
EURUSD -- 0.9939
The currency pair printed a new mutli-year low at 0.9878 yesterday. The daily close was 0.9950 which has been support for the past two weeks. Below the mid Bollinger band (1.0060) you can stick with shorts for the time being. But above that treshold I would get rid of shorts quickly as apart from the minor resistance zone around 1.0080/90 the next real level comes in more than a big figure above at 1.0170 (50 ema).
GBPUSD -- 1.1594
Yesterdays’s price action shows a reversal candlestick pattern. After printing a new multi-year low at 1.1444 (19mar20 covid-low was 1.1411) the currency pair ended the day solidly above the 1.1500 level. Sterling lost 7% against the Dollar in recent weeks starting from 1.2294 (hod 01aug) so a bigger recovery could be on the horizon now. A first target should be the former 1.1760 support.
USDJPY -- 141.63
This currency pair remains my biggest annoyance. I wrote back in June why I can't understand the rally and that hasn't changed to this day. But we were still 6 big figures lower than today. There was a dip down in the mean time to 130.40 (02aug), but it was quickly bought back. I will not recommend shorts. With the big 140 treshold behind, the 147.63 high from August 1998 are getting closer and closer. Nonetheless, the Dollar is overbought and a bigger sell off can start at any time. But unfortunately I don't know from where. The chart below is a monthly chart.
Good luck,
Sebbo