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.

FX levels to watch: EUR/USD, GBP/USD and USD/JPY

FX markets have seen a rebound in USD/JPY overnight, while GBP/USD remains in bullish form.

EUR/USD pushes on higher

Gains continue here for EUR/USD, as the price recovers from weakness yesterday.

The target remains trendline resistance from the January highs, as it looks to challenge the descending triangle formation. Fresh declines below $1.134 would revive the idea of a retest of the $1.128 zone.

GBP/USD still climbing

There has been no stopping GBP/USD in the past two weeks, and pullbacks towards $1.31 may well represent fresh buying opportunities.

Further gains target $1.347, and a renewed bearish view in the short-term would require a drop below $1.30.

USD/JPY rebounds but posts lower high

The USD/JPY pair shot higher overnight, but then created a lower high at ¥111.10, and has then declined.

However, buyers are defending the ¥109.65 zone, and if this holds and a rally takes out the ¥111.10 zone, then more gains might result, with a close above ¥111.30 providing a renewed bullish view.

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.