EUR/USD and USD/JPY fall as GBP/USD moves sideways

EUR/USD’s sharp bounce has firmly ended now, and we are seeing further downside for this pair, as well as for USD/JPY.

EUR/USD downtrend intensifies

The direction of travel for EUR/USD over the past three sessions has been downward, with the price forming lower highs and lower lows.

Short-term trendline resistance may come into play around $1.098, while further declines below $1.09 head towards $1.075 and then $1.064. Above $1.098 the price targets $1.105, the previous lower high, and then on to $1.115 and the highs from 30 March.

GBP/USD drifts sideways

GBP/USD has moved sideways over the past week in a tightening range, so far unaffected by the modest renewal in USD strength.

Losses below $1.23 have been prevented, with buyers stepping in to defend this area, while any rally above $1.24 of late has proven short-lived. Below $1.23, risks a revival of the downward move towards $1.16, while above $1.24 the price heads towards $1.2635 and then $1.277.

USD/JPY under pressure

The move lower for USD/JPY looks to be resuming, as the price manages only a slight bounce from the lows of yesterday.

A drop below ¥107.00 would confirm the more bearish view and suggest a deeper decline towards ¥105.00. A more bullish view requires a substantial revival, targeting the ¥108.60 highs from earlier in the week.


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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.