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

The euro remains stalled below a key level, while USD/JPY has paused after recent strong gains.

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 stuck below $1.17

The push higher has stalled for EUR/USD, with moves above $1.17 failing to hold their ground.

If this continues then the likelihood of a drop back towards $1.1574 and then $1.15 increases. The next big level to watch is $1.1444, should the pair break $1.15.

GBP/USD looks to maintain upward move

GBP/USD was knocked back from the highs yesterday, having attempted to move above $1.34.

A small rising trendline from last week’s lows has yet to be breached to the downside, so a continued move higher will target $1.34 in the near term. Below $1.3280, the lows around $1.32 come into play.

USD/JPY pauses after surge

USD/JPY has bounced strongly over the past week, so a degree of caution might now be seen.

If the higher low from last week holds, then the price will target the 200-day simple moving average (SMA) at ¥110.19, and then on to ¥111.40. Pullbacks towards ¥109.00 may find buyers, while a move below ¥108.00 is needed to cast a more bearish view over the pair.

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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.