The US dollar was unable to take a lot of advantage of the safe-haven flows yesterday as Fed Chairperson Yellen warned that central bank officials are watching exchange rates closely before making any monetary policy adjustments.
EURJPY has been trending lower on its longer-term time frames but the opportunity for a countertrend setup is emerging.
The US dollar had a volatile day as it initially reacted positively to Yellen's remarks but eventually returned its recent gains.
EURGBP recently broke past a resistance area at the .7650 minor psychological level then climbed to the .7850 area before showing signs of a pullback.
The US dollar was in a weaker spot yesterday even as it put up a fight against the comdolls.
GBPUSD has sold off recently but is still gradually trading higher on the 1-hour time frame.
The US dollar regained ground to the higher-yielders, except for the euro, franc, and yen.
USDJPY appears to have a made a convincing break below the head and shoulders neckline on its daily time frame.
The US dollar advanced against its forex rivals when the underlying data of the NFP release showed green shoots.
AUDUSD has been trending higher lately, moving inside an ascending channel on its 1-hour time frame.