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.

EUR/USD, GBP/USD and USD/JPY all pushing higher

A recovery in risk appetite has bolstered the euro and sterling versus the dollar, and lifted the greenback against the yen.

EUR/USD targets recent high

Having bounced last week from $1.078, the EUR/USD price has continued to rally, establishing higher highs and higher lows over the past two days following the surge on Monday.

Gains since mid-April have stalled around $1.10, so a longer-term break higher requires a push above this level. Alternatively, a break back below $1.092 could signal a bigger retracement, targeting $1.088 and then $1.078.

GBP/USD creates higher low after breakout

GBP/USD broke through trendline resistance on Monday, and while it has dropped back from the highs around $1.23, the price may be in the process of establishing a higher low around $1.218.

Further gains head towards $1.23, and it will be above here that a higher high is created.

USD/JPY uptrend continues

Steady gains have been seen in USD/JPY over the past month, creating higher highs at ¥107.70 and then on to ¥108.00.

A pullback from Tuesday’s high has created a higher low at ¥107.40, and this has been followed up with further gains. A more bearish view requires a drop below ¥107.40, which may open the way to ¥106.80.

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

See more forex live prices


See more shares live prices


See more indices live prices

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.