---
title: "The USD has reversed most of the earlier declines vs the EUR, JPY and GBP. What next?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288765300.md"
description: "The U.S. dollar reversed earlier declines against the EUR, JPY, and GBP during the North American session. EURUSD and GBPUSD have rotated below key moving averages, shifting technical bias toward sellers, while USDJPY resumed its climb to test the critical 160.00 level. Traders are monitoring these technical levels and risk areas as the market prepares for the next session."
datetime: "2026-06-04T19:51:27.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288765300.md)
  - [en](https://longbridge.com/en/news/288765300.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288765300.md)
generator: "portal-rs"
---

# The USD has reversed most of the earlier declines vs the EUR, JPY and GBP. What next?

The **U.S. dollar began the North American session on the defensive**, but in today's tightly confined trading environment, momentum and bias can shift quickly. Over the past several days, both the **EURUSD** and **GBPUSD** have been oscillating around their converged **100- and 200-hour moving averages**, using those levels as key barometers for short-term direction. Meanwhile, the **USDJPY** has maintained a more bullish tone, holding above its hourly moving averages and grinding higher toward the important **160.00 level**.

As the North American session progressed, however, the dollar reversed course. The move lower in the **EURUSD** and **GBPUSD** faded, allowing both pairs to rotate back below their **100- and 200-hour moving averages**, shifting the near-term technical bias back toward the sellers. At the same time, the **USDJPY** resumed its climb and is once again testing the closely watched **160.00 level**, an area traders continue to view as both a technical and psychological hurdle.

In the video above, I take an updated look at the three major currency pairs as trading winds down for the day. **Which technical levels are now in play? Where are the key risk-defining areas for buyers and sellers? And what should traders be watching as the market heads into the next trading session?**

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**