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 and GBP/USD push higher as USD/JPY consolidates

Dollar weakness ahead of non-farm payrolls has allowed EUR/USD and GBP/USD to move higher, while leaving USD/JPY near yesterday’s lows.

EUR/USD holds $1.12 support

For another day, EUR/USD held $1.12 support. The pair is now pushing towards $1.13 and $1.134, and the high from 23 June.

The mid-June declines have stalled, which points the way toward a resumption of the move higher from the beginning of that month. A reversal below $1.12 would likely negate this bullish outlook.

GBP/USD continues its recovery

The GBP/USD surge has carried the pair to its highest level in over a week, with $1.254 the first major level to watch on the upside.

A move above this level would create a new higher high and help reinforce a more bullish view. If sellers are to regain control of the pair then we need to see a drop back below $1.235 and a move back towards $1.225.

USD/JPY consolidates after yesterday’s drop

Despite some weakness yesterday, USD/JPY continues to hold on to its uptrend of the past week.

The downward move from yesterday appears to have stalled at ¥107.40, and a renewed push higher targets ¥108.10. A reversal below ¥107.40 would open the way to ¥106.80 and then ¥106.20

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.