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Japanese officials issued their strongest verbal intervention warning in months as USD/JPY approached 158, a level that previously triggered actual market intervention.
The US dollar rallied sharply against major currencies after the Federal Reserve indicated rates would remain at current levels longer than markets expected, sending EUR/USD below 1.0700.
Gold has pulled back from its $2,400 high to $2,280 support. The technical structure remains bullish and this dip may be the last chance to enter before the next leg higher.
A classic head and shoulders formation on the daily chart suggests EUR/USD could target 1.0550 in the coming weeks. Here is the full breakdown.