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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

AUD/USD, GBP/USD rise while USD/JPY drops to two-week low​

AUD/USD, GBP/USD rise while USD/JPY slips ahead of US Non-Farm Payrolls

AUD Source: Getty Images

​​​GBP/USD nears downtrend line

GBP/USD retains its bullish bias and will continue to do so while it stays above Wednesday's $1.2466 low on a daily chart closing basis. A fall through the the next lower Friday low at $1.2449 would probably engage the mid-April low at $1.2406, though.

​While $1.2466 underpins, the March-to-April downtrend line at $1.2566 will remain in focus. A rise above which would engage the 55-day simple moving average (SMA) at $1.2614.

GBP/USD chart Source: TradingView.com

​AUD/USD continues to rise

AUD/USD's swift recovery from Wednesday's $0.6465 low has taken it to this year's downtrend line at $0.6588, a rise above which would target the March and April highs at $0.6644 to $0.6667.

​Support is seen between the 55- and 200-day SMA at $0.6532 and $0.652.

AUD/USD chart Source: TradingView.com

​USD/JPY comes off its ¥160.21 high

USD/JPY is being pushed down towards the March high and 55-day SMA at ¥151.97 to ¥151.73 while minor resistance sits at Monday's ¥154.51.

USD/JPY chart Source: TradingView.com

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