Dollar heading higher...
The EURUSD has cracked below the 1.1099 level - 100 hour MA - and that break triggered stops to the downside.
The price has moved to a new session low 1.1085 on the break. The pair is testing a lower trend line on the hourly (breaking now). The lows from Friday, Monday, and Tuesday all come in at 1.10724 and is a key floor on the downside.
The close risk for shorts now is the 100 hour MA at 1.10993.
For the USDJPY, it broke above its 200 day moving average and high for the week at 109.027 and 109.063 respectively. The high price scooted higher and tested a topside trend line at the 109.27 level> The high reached 109.281. A move above that topside trend line should solicit more upside buying in the pair. For now, however, traders have initially at least sold against the trend line.
