CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD and GBP/USD hit hard, while USD/JPY surge stops at key resistance

EUR/USD and GBP/USD break into multi-month lows, while USD/JPY starts to ease back from a key resistance level.

EUR/USD at key support level after hitting 10-month low

EUR/USD has been on the slide of late, with the US dollar strength driving weakness for this pair. That decline has taken us tentatively below the August low of $1.1664 to bring about a fresh 10-month low.

The ability to maintain the price action below that level is key, signalling the potential for a new bearish phase to come into play. Alternately, we would need to see a break up through $1.1755 to bring about a more positive outlook for this pair.

GBP/USD hit hard, bringing eight-month low

GBP/USD saw sharp selling yesterday, bringing the price back below the July low of $1.3572. That points towards a wider bearish trend playing out for this pair, with further downside expected as a result.

A rise up through $1.375 would be required to negate that bearish view.

​USD/JPY starts to turn lower from resistance

USD/JPY has enjoyed a period of gains, as rising treasury yields drove the pair into a bullish breakout. However, the final hurdle within that breakout appears to be a stretch too far, with the pair reversing lower from the ¥111.66 level.

It is likely that we ultimately do break through that resistance level. However, until that happens, we could see a short-term downside retracement from that level.

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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.