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.

USD/JPY hits new three-month high, while both EUR/USD and GBP/USD struggle against the US dollar

The dollar is rampant once more, surging to a three-month high against the yen and causing more declines for EUR/USD and GBP/USD.

USD/JPY Source: Adobe images

EUR/USD slump goes on

EUR/USD continues to decline, falling sharply on Monday and seeing further losses on Tuesday. The August low at $1.0780 is now firmly in sight. Below this lie the summer lows at $1.0670 and then April’s $1.06 low.

A revival back above $1.0850 might suggest that a short-term low has been formed.

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

GBP/USD volatile around recent lows

Fresh losses on Monday took GBP/USD lower, and then Tuesday saw it briefly test the 100-day simple moving average (SMA) for the first time since early August.

It has managed to push higher in early trading however, reviving hopes of a low being formed. It has fallen below the September low around $1.30, reinforcing the bearish view.

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

USD/JPY surges once more

The dollar’s recovery against the yen continues, and overnight trading has taken USD/JPY above ¥152.00, above the 200-day SMA and to its highest level since 31 July.

The rally appears to have entered a new phase, and the ¥154.00 area now comes into view. Sellers would need a close back below the 200-day SMA and then below ¥150.00 to suggest a peak has been reached for now.

USD/JPY chart Source: ProRealTime
USD/JPY chart 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.

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

Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

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.