Fed's Dovish Pivot Crushes US Dollar, Tech Setups on EUR/USD and USD/JPY

The US dollar continues to decline as US Treasury yields fall, following the Federal Reserve's dovish pivot at its December meeting. The collapse in yields has caught investors off guard, leading to a bearish environment for the greenback. The EUR/USD has rallied towards the 1.1000 handle, boosted by the ECB's less dovish stance compared to the Fed. GBP/USD has also surged to its highest levels in nearly four months. Meanwhile, USD/JPY has dropped below its 200-day moving average, signaling a bearish trend. Technical analysis suggests that EUR/USD could rally further towards 1.1090, while USD/JPY faces potential support at 140.70 and trendline support at 139.75.