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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/JPY, USD/JPY rally further still while AUD/USD probes key support​​​

​​​EUR/JPY, USD/JPY rally ahead of Thursday’s BoJ interest rate decision while AUD/USD probes key support.​​

Forex Source: Adobe images

​​​EUR/JPY heads towards next higher resistance zone

EUR/JPY has left the previous ¥162.89-to-¥164.24 resistance zone and is gunning for the ¥167.33-¥168.01 area.

​Because of inverse polarity the ¥164.24-¥162.89 region should now act as support.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

​USD/JPY rallies further still

USD/JPY continues its advance towards the ¥154.56 early June high and the ¥155.21 late July high.

​Support can be spotted along the 200-day simple moving average (SMA) at ¥151.40.

USD/JPY chart Source: TradingView.com

​AUD/USD drops to support

AUD/USD slid to its $0.6580-58 support zone which is expected to hold this week.

​Minor resistance above the 200-day SMA and the September low at $0.6623-to-$0.6627 can be seen along the October downtrend line at $0.6648.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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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