The USD is moving higher vs the major currencies. Helping the move is coming from the US yields. The 2 year yield is currently trading at the highs at 3.534% up 4.3 basis points. The 10 year yield is at 4.092%, up 7.3 basis points.

Looking at the major pairs:

EURUSD:

The EURUSD moved higher early in the U.S. session, breaking above its 100-day moving average at 1.16429. Buyers pushed the pair into a key swing area between 1.1645 and 1.16596, with the session high reaching 1.1652.

Since that push, however, the pair has rotated lower. The fall back below the 100-day MA has tilted the short-term bias back toward the downside, and the pair now trades near 1.16223, though still up about 0.24% on the day.

On the downside, the high from last week at 1.16126 is the next target support. A break below that would expose the 50% midpoint of the range since the mid-October high at 1.15978. Moving below that level would weaken the bullish case and put sellers more firmly in control.

For now, resistance has shifted back to the 100-day moving average, which stands as a key ceiling. Staying below that level keeps sellers engaged and caps the topside momentum.

USDJPY:

The USDJPY moved sharply lower in the wake of Bank of Japan Governor Ueda’s comments earlier today, which tilted more decisively toward a potential December rate hike. That shift in tone triggered a downside break below the key 155.00 support level, accelerating the selling pressure.

The decline extended to 154.67, taking the pair below the 61.8% retracement of the rise from the November low at 154.745. That break briefly put sellers firmly in control before the momentum began to ease.

Since then, the pair has rebounded back above 155.00, suggesting buyers are attempting to reassert themselves. The recovery now puts the focus on the 50% midpoint at 155.342, which will serve as the next bias-defining barometer. A move above would strengthen the bullish corrective tone, while staying below keeps sellers interested and the downside pressure alive.