In the coming days, the euro is expected to continue moving in a sideways range. After a likely attempt to pressure the lower reversal zone, a shift in direction and a rise toward the resistance area may follow.
Uncertainty surrounding the Bank of Japan, growing tensions between Japan and China, and speculation about an early general election in Japan are putting significant pressure on the Japanese yen.
The GBP/USD pair is maintaining a positive bias for the second consecutive day amid subdued demand for the US dollar. Concerns over the independence of the Federal Reserve continue to weigh on the greenback.
