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 stabilise as USD/JPY slips below ¥103

EUR/USD and GBP/USD have edged up after yesterday’s losses as USD/JPY drops once again.

EUR/USD steadies after drop

The EUR/USD spent three sessions near the $1.23 zone but then fell back yesterday.

However, this small drop failed to dent the ongoing bullish view that has seen trendline support bolster the move higher since early December. A move below $1.22 would break this short-term support and bring $1.208 into view. For now however the buyers remain in change with another attempt to push above $1.23 expected.

GBP/USD drops back near-3-year high

After beginning the new trading year with solid gains the price fell of GBP/USD back, but here too the upward trend of recent weeks has not yet been disturbed.

Below $1.354 a more bearish short-term view will emerge, while a bounce from near-term trendline support would result in another move towards $1.37.

USD/JPY still in retreat

The downtrend of USD/JPY continues to deliver, as the price slips below ¥103 once more after yesterday’s new lower low.

There has been little in the way of any bullish price action, with lower highs over the past few sessions confirming the strength of the downward move, a point reinforced by continuing low readings for stochastics and moving average convergence/divergence (MACD).

This information has been prepared by IG, a trading name of IG Markets 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.

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

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.