Decode Forex Platform: EUR/USD, USD/JPY, AUD/USD Analysis

Analyst Christopher Lewis believes that in the longer term, the dollar remains strong, but its upward momentum is somewhat hesitant in the short term.Decode Forex PlatformWith trading volumes picking up again, the market will now be most concerned about the non-farm payrolls data released on Friday. Here is a specific analysis of EUR/USD, USD/JPY, AUD/USD.

EUR/USD daily chart

EUR/USD did initially rise on Monday, but is now struggling again, at around 1.04. At this point, it will be interesting to see if the dollar continues to strengthen. I think this could also put us in a situation where the dollar strengthens significantly, given the jobs data due on Friday.

On the other hand, if EUR/USD breaks through the level of 1.0450, then the next step is likely to be towards the important resistance level of 1.06, which I think will be an important thing. If it can break through this area, the trend may change. But for now, the euro still looks quite weak.

USD/JPY daily chart

USD/JPY did break through the key 158 mark, but then gave up its gains. I think it may only be a matter of time before USD/JPY continues to rise, but there is still some work to be done. Part of the reason may be that the non-farm payrolls data will be released on Friday, after which traders can more effectively judge the next move of the Federal Reserve, so they don't want to overexpose risks until then. There is support around 156.50, so I will keep an eye on that. I think this is roughly a consolidation, and the upside is ready to go.