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FX levels to watch – EUR/USD, GBP/USD, USD/JPY

Further euro strength has extended the trend here, while the pound remains under pressure.

CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.
Euro
Source: Bloomberg

EUR/USD buyers keep trend going

A steady rising trend over the past week for EUR/USD has produced another pullback overnight, with the price dropping back towards $1.1860.

However, buyers are entering to push the price higher, with a move above yesterday’s high of $1.19 opening the way to $1.1950 and higher. A move below $1.1830 would likely end the short-term uptrend.

GBP/USD pushes lower

GBP/USD continues to log lower highs in its December decline, with yesterday’s rally petering out around $1.3420.

Further losses will head to $1.33, which has acted as strong support over the past two weeks. A move above $1.3420 would target $1.3469.

USD/JPY aims to break key resistance

A steady rally over the past week for USD/JPY sees the price set to challenge the ¥113.75 area, the high from mid-December, and then on to ¥113.91.

Above this is the key ¥114.37 resistance area, while a move through ¥114.00 would put the price back above the 2017 downtrend.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.