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.

EUR/USD decline continues, while USD/JPY keeps rallying and GBP/USD holds steady

The euro is still declining against the dollar, and the greenback has continued to make gains against the yen.

Video poster image

EUR/USD continues to push lower

The sellers remain in control for EUR/USD, with a small bounce early yesterday being swiftly reversed.

For the time being further declines seem likely, with no reversal in the progression of intraday lower highs and lower lows. Further declines target $1.15 and then down to $1.1425. A rally above $1.18 is needed to provide a more near-term bullish view.

EUR/USD Source: ProRealTime
EUR/USD Source: ProRealTime

GBP/USD fighting to hold above $1.27 level

For a second day, GBP/USD is fighting to hold above $1.27, having dipped below this level in early trading.

If it can find a floor here then a rebound towards $1.30 may develop, with a rally above $1.288 marking a breakout from trendline resistance. Further declines below $1.2674 target $1.25.

GBP/USD Source: ProRealTime
GBP/USD Source: ProRealTime

USD/JPY keeps rallying

USD/JPY (大口) strength has seen this pair continue to move higher for the previous three sessions.

This countertrend rally shows no sign of stopping yet, with gains targeting the 50-day simple moving average (SMA) at ¥105.90. A bearish reversal in the direction of the underlying trend lower would point towards a renewed move to the downside.

USD/JPY Source: ProRealTime
USD/JPY Source: ProRealTime

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.

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.