EUR/USD, USD/JPY and USD/CAD Favor Dollar Ahead of Jackson Hole

The US dollar is showing broad strength against major currencies ahead of upcoming speeches at the Jackson Hole symposium, with market participants demonstrating reluctance to short the greenback. In the EUR/USD pair, the euro has retreated from recent highs near 1.1700, drifting down toward the 200-period exponential moving average (EMA) as the 50-period EMA crosses lower around 1.1657. Technical analysis indicates resistance at 1.1650, with a short-term downside target set at the 1.1600 level. Across other major pairs, USD/JPY maintains upward momentum above both the 50-period and 200-period EMAs, targeting the 160.000 resistance level despite ongoing concerns from the Bank of Japan, with pullbacks near 159.25 viewed as buying opportunities. Meanwhile, USD/CAD trades above moving averages near 1.3877, where traders look for potential pullbacks toward 1.3830 as entry points to maintain long dollar exposure driven by persistent trade tensions.