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United States Initial Jobless Claims registered at 191K, below expectations (220K) in November 28

United States Initial Jobless Claims 4-week average down to 214.75K in November 28 from previous 223.75K

The Euro (EUR) weakens against the Japanese Yen (JPY) on Thursday as the Yen outperforms major peers, buoyed by growing speculation that the Bank of Japan (BoJ) could raise interest rates at its upcoming December 19 monetary policy meeting.

TXN completed a zigzag correction from the July 2025 high, finishing right inside the blue-box support area where new buying interest emerged. The stock has since launched into a strong rally from that zone, putting buyers solidly in profit.

EUR/USD keeps trading back and forth on Wednesday, and holds marginal gains on the daily chart at 1.1670, after hitting the highest levels in more than six weeks, at 1.1682.

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The USD is starting the North American session on the defensive against the JPY, trading lower by roughly 0.40%. Early trading has seen the pair press against—and attempt to move and stay below—the 38.2% retracement of the rally from the mid-October low, a key technical level that comes in near 154.625. A sustained break below that level would strengthen the bearish tilt and raise the question: Can the sellers keep the downside momentum going, or will the market once again find support and rotate higher?

For EURUSD and GBPUSD, the price action has followed a similar rhythm. The initial journey lower — reflecting dollar strength — pushed each pair toward important technical support zones. However, in both cases, buyers stepped in at those meaningful levels, halting the declines and triggering measured retracements higher. Those rebounds are giving dip buyers a bit more confidence, at least for now, that support is still being respected.

In the video above, I walk through each of these three currency pairs from a technical perspective. I outline the prevailing bias, identify the key upside and downside targets, and highlight the risk levels that traders should be watching as the session unfolds. As always, knowing where the battle lines are drawn helps traders define their bias, understand their risk, and map out the next likely steps in the price action.

This article was written by Greg Michalowski at investinglive.com.