Dollar retreats further on the session on lower yields

Dollar loses more ground in European trading today

USD/JPY is down to a low of 108.60 from 109.20 earlier in the day while EUR/USD is closing in on 1.1900 once again from around 1.1850 at the start of the session.
USD/JPY D1 09-03
As Treasury yields are keeping lower, the impetus for the greenback to keep the upside momentum is hitting a pause for the moment and turning around slightly.
The dollar is lower across the board but it is quite a distance away from testing key levels to suggest a turnaround in the recent upside momentum.
For USD/JPY, the 100-hour moving average is seen @ 108.04 and that will be the first key near-term level in focus for sellers to test any extensive downside run.
Meanwhile, that same level is seen @ 1.1952 for EUR/USD with the 23.6 retracement level of the swing move lower from 1.2243 to 1.1836 is seen @ 1.1932.
As such, the dollar is giving up some ground but there is yet to be any key turning point – technically speaking. That said, perhaps the market is still not completely certain that the Fed will allow this bond selloff to run further at the FOMC meeting next week.