The dollar is under some pressure, especially against the yen

EUR/USD: The pair is held near the Jun-Jul 78.6% Fibo retracement ref at 1.3275 and as long as it’s not decisively broken we could be witnessing the creation of a larger bearish formation. But short-term “Ichimoku tools” are at the same time in bullish positions, arguing for some extension higher to test the Jun high of 1.3418 again. Below 1.3205/165 is needed to show some real weakness again.