Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​​Yen weakness carries on, EUR/JPY and USD/JPY rise, also AUD/USD​​​

​​​The US dollar stabilized as US yields hit a new three-month high but Yen weakness carries on with EUR/JPY and USD/JPY rising, also AUD/USD.​​

Yen Source: Bloomberg

​​​EUR/JPY continues its gradual ascent

EUR/JPY is still heading for the ¥163.72 late November high and is being supported by its accelerated uptrend line at ¥162.56. Below it lies minor support at the ¥161.86 January high.

Upside pressure should remain in play while the 13 February high at ¥161.63 and, more importantly, last Thursday's low at  ¥160.92, underpin.

EUR/JPY chart Source:
EUR/JPY chart Source:

​USD/JPY stays bullish while above ¥149.54

USD/JPY is trading back above the minor psychological ¥150.00 mark and nears its four-month high at ¥150.88. Above it beckon the October-to-November record highs at ¥150.91-94.

Only if last Thursday's  ¥149.54 low were to give way, would the ¥148.89-80 support zone be back in sight.

USD/JPY chart Source:
USD/JPY chart Source:

​AUD/USD remains bullish

AUD/USD is still trying to overcome the 200-day simple moving average (SMA) at $0.6562 and reach the $0.661 to $0.6633 area which consists of the late January and early February highs and the 55-day SMA. 

Minor support is found in the $0.6543 to $0.6522 zone.

AUD/USD chart Source:
AUD/USD chart Source:

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

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.