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

UK employment figures have put pressure on sterling, while the euro pushes below yesterday’s low.

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 moves lower

Selling pressure remains here for EUR/USD, with the price pushing on towards $1.23.

As yesterday, the $1.2165 level comes into play next. Any rally will target the highs of around $1.2540 from earlier in the month.

GBP/USD knocked back by employment data

Today’s unemployment reading has seen the bears take control of GBP/USD, pushing the price below yesterday’s lows.

The first downside level to watch is $1.3836, followed by $1.3764.  A reversal above $1.4150 is needed to change the bearish view.

USD/JPY pushes higher for now

Steady gains from the lows continue, although USD/JPY remains in a downtrend from the highs of the year so far.

This could move towards the ¥108 level and still be a selling opportunity. A breakout above ¥109 is needed to suggest a definitive turn higher.

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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.