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.

FX levels to watch: EUR/USD, GBP/USD and USD/JPY

The euro is back above $1.13 against the US dollar, while USD/JPY has returned to key resistance last encountered in February.

EUR/USD moves back above $1.13

EUR/USD is making another attempt to hold above $1.13 and the 50-day simple moving average (SMA), recovering from yesterday’s losses.

It found support at $1.128, creating a new higher low, and now targets $1.132 as near-term resistance before a push on to $1.14. A bearish view requires a move back below $1.128.

GBP/USD sellers back in control

Cable broke lower from the ascending triangle yesterday, and while it has rallied from $1.304, it must move through $1.3075 to break short-term resistance and target $1.312 once again.

A turn lower retests support at $1.304 and then down to $1.299.

USD/JPY stuck at key resistance

USD/JPY continues to struggle at ¥112.00, having hit this level in late February and then retreated. A break higher targets ¥112.70 and trendline resistance from the October highs.

Rising trendline support from the March lows comes into play around ¥111.50.


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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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