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.

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

Dollar strength has been particularly notable in USD/JPY, while the euro is aiming to return to highs last seen in September.

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.

EUR/USD aims for $1.21

EUR/USD managed to clock up a new high for the year yesterday, but is edging lower once more.

A push below $1.20 would create a new lower low, but for the moment it seems prudent to stick with the rising trend and aim for another attempt to hit $1.21, which would put the pair above the September high.

GBP/USD uptrend still extant for now

The push to $1.3580 has created a lower high for GBP/USD, which raises the prospect of further bearish momentum.

A move below $1.3494 would create a new lower low and reinforce this negative outlook. Below this, $1.3466 and then $1.3427 comes into play. 

USD/JPY bulls take charge

Recent strength here has seen USD/JPY push through the descending trendline off the December high.

While some consolidation ahead of non-farm payrolls (NFPs) is possible, it looks like dips will continue to be bought, with a drop below ¥112.70 needed to suggest a bearish move lower is in play. 

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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.

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