FX levels to watch – EUR/USD, GBP/USD, USD/JPY

Further euro strength has extended the trend here, while the pound remains under pressure.

Source: Bloomberg

EUR/USD buyers keep trend going

A steady rising trend over the past week for EUR/USD has produced another pullback overnight, with the price dropping back towards $1.1860.

However, buyers are entering to push the price higher, with a move above yesterday’s high of $1.19 opening the way to $1.1950 and higher. A move below $1.1830 would likely end the short-term uptrend.

EUR/USD price chart

GBP/USD pushes lower

GBP/USD continues to log lower highs in its December decline, with yesterday’s rally petering out around $1.3420.

Further losses will head to $1.33, which has acted as strong support over the past two weeks. A move above $1.3420 would target $1.3469.

GBP/USD price chart

USD/JPY aims to break key resistance

A steady rally over the past week for USD/JPY sees the price set to challenge the ¥113.75 area, the high from mid-December, and then on to ¥113.91.

Above this is the key ¥114.37 resistance area, while a move through ¥114.00 would put the price back above the 2017 downtrend.

USD/JPY price chart

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