The USD continued to run during the early part of the 9/30 session. However, as we got into the 9/30 US session, the greenback is giving back some of those overnight gains. Let’s take a look at the USD/JPY, EUR/USD and GBP/USD charts.

USD/JPY is coming off a new high on the month at 109.85. The market is still bullish, and it is likely that traders will look at this dip as an opportunity to buy dollar-yen towards at least the 110.00 handle. EUR/USD fell to a new low on the year at 1.2571. There is a pullback, but we should expect sellers. There is still further room below 1.2571 to 1.2459, which is the 78.6% retracement of the 2012-2014 rally. With the weekly RSI in extreme oversold condition, we can anticipate some support here, unless the ECB does implement more QE this Thursday. GBP/USD made a new low on the week and is pulling back. However, unless it breaks above 1.63, the bearish outlook as the 1.6051 low in sight.

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Fan Yang has been a professional forex trader and analyst since 2007. He specializes in technical analysis and has a Chartered Market Technician designation since 2011. He was the chief technical strategist at CMSFX He was also the founder and chief currency strategist at FXTimes Over the years, Fan has not only been a trader and analyst but also an educator. As a proponent of both technical and fundamental analysis in trading, Fan advocates simplicity and discipline as key factors in making trading decisions when faced with so many "clues" and "signals". Currently Fan Yang is the chief currency analyst and webinar instructor at