USDCAD
On Friday, USD/CAD traded in a roughly 1.3847–1.3889 range, as reported by Reuters for late May 22nd. The pair saw moderate volatility with no clear breakout; a softer start was offset by a late rally. Traders were watching Canadian retail sales data (due at 08:30 ET), where economists expected a 0.7% MoM gain. A stronger retail print would have bolstered the loonie (pushing USD/CAD down), while a weak result would favor the USD. In parallel, oil prices fell about 0.6% to ~$61.20 per barrel, slightly weakening CAD since oil is a major export. Technically, USD/CAD found support near the 1.3850 area (bottom of the prior range) and met resistance around 1.3885–1.3890 (the upper bound noted by Reuters). Intraday candlesticks showed mostly small bodies and wicks, consistent with a day of indecision around these levels. Overall, a slight upward bias in USD/CAD on Friday (USD strength from U.S. news) was offset by headline risk on Canadian data and oil, leaving the pair oscillating in the prior day’s range.
EURUSD
EUR/USD finished the day near the mid-1.11s, continuing the week’s downtrend. The euro came under renewed pressure as U.S. data and Fed-related sentiment strengthened the dollar. In particular, stronger U.S. inflation expectations and the prospect of a steady Fed rate path buoyed the USD, dragging EUR/USD toward ~1.1150. By late Friday, analysts noted the pair trading below a key pivot at ~1.1223, with bulls needing to reclaim ~1.1250 to reverse the slide. If bearish momentum persists, a break below ~1.1150 could expose support down near 1.0950 in the coming sessions. This matches technical commentary during the week, which flagged the prior 1.12 area as resistance and projected a drop toward 1.0950 as a likely downside target. (By contrast, a move above 1.13 was seen as a breakout point for a larger rally.) No major European data on Friday shifted the market; the focus remained on U.S. indicators and Fed Fed speeches. In summary, EUR/USD traded in a clear down-channel, with rising USD momentum and short-term resistance near 1.122–1.125 as highlighted by analysts.
USDJPY
USD/JPY continued to trade on the back foot. On May 22nd, FXStreet reported USD/JPY sliding back toward ¥143.50, as a weaker risk tone and diverging Fed-BoJ policy expectations kept the safe-haven yen strong. Heading into May 23, the pair struggled below the psychological ¥144.00 mark (which had flipped from support into resistance). Analysts noted ¥144.00 as a capped level and saw the dollar’s recovery as fragile there. In fact, technical support was identified further down around ¥139.7, implying limited downside beyond mid-¥140s unless that band failed. Throughout Friday, USD/JPY candles were choppy but generally bearish, with any short-lived rallies fading near the 144 barrier. No major Japanese data or central bank announcements occurred, so market moves largely reflected global risk appetite and U.S.-Japan yield spreads. In sum, USD/JPY was under pressure (staying in a downtrend channel) with resistance near 144.00 and firmer support near 140, consistent with prevailing technical analysis.