USDJPY moves to new session lows. GBPUSD trades at highest level since September 25

The USD has moved lower after the US Senate said they will not vote for a Republican tax bill Thursday night and that the debate would continue into Friday.

The USDJPY has fallen to a new low of 112.32. The high reached 112.70 earlier in the session.

The GBPUSD is trading at the highest level since September 25 at 1.3550. That has taken out the high from yesterday by a few pips. You would expect more momentum on the break. Key test for that pair. The price is above the highest corrective high from the post Brexit trading in 2016 at 1.3532. That is now a risk level for longs in the pair (see weekly chart below).

The EURUSD has also move to a new high for the day at 1.1916. The pair earlier in the session retested its 100 hour MA (blue line in the chart below), and found buyers leaning. That moving average came in at 1.1882 and the low for the day reached 1.1886